Investment Objective

To achieve a stable overall return over the long term by investing solely in the Allianz Choice Stable Growth Fund which is an APIF and in turn invests in a diversified portfolio of global equities and fixed-interest securities.

Fund Details

Latest Fund Expense Ratio: 1.21%

Launch Date(dd/mm/yyyy): 10/07/2009

Unit Price: HKD 12.9819

Fund Size: HKD 59.45M

Fund Commentary

US equities tumbled over March, extending the coronavirus-related sell-off that started in mid-February. The rapidly evolving crisis led to heightened volatility, with US stocks suffering a large one-day fall followed by large daily gain amid rising hopes that the US government would agree to a USD 2.2 trillion support package. European equities plunged over March, falling to the lowest level since 2013, as the continent became the epicentre of the COVID-19 pandemic. Italy was the worst affected country, followed by Spain and France, but the continent effectively went into lockdown as people were told to stay at home and not to travel unless absolutely necessary to avoid overloading already-stretched health care systems. US government bonds initially surged amid growing concerns that the COVID-19 pandemic would tip the global economy into severe recession. Unusually, however, while stock markets continued to fall, bonds also suffered a sharp selloff mid-month, but yield declined once more towards month-end.

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