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.
Fund Performance Information
Annualised return |
Calendar year return |
1 year (p.a. %) |
5 years (p.a. %) |
10 years (p.a. %) |
Since launch (p.a. %) |
2015 | 2016 | 2017 | 2018 | 2019 | YTD |
-5.08% |
1.00% |
2.05% |
2.46% |
-3.30 | 1.69 | 17.84 | -9.08 | 11.37 | N/A |
Fund Performance Information
Annualised return |
1 year (p.a. %) |
5 years (p.a. %) |
Since launch (p.a. %) |
-5.08% |
1.00% |
2.46% |
Calendar year return |
2015 | 2016 | 2017 | 2018 | 2019 | YTD |
-3.30 | 1.69 | 17.84 | -9.08 | 11.37 | N/A |
Top 10 Holdings
Security name |
Holdings Weight |
Ishares Core S&P 500 ETF |
4.69% |
Vanguard FTSE Developed Europe ETF |
2.68% |
Tencent Hldgs Ltd |
2.17% |
US Treasury N/B 2.875% Nov 15 2046 |
1.58% |
Alibaba Group Hldg Ltd |
1.48% |
AIA Group Ltd |
1.47% |
US Treasury N/B 2.5% Feb 15 2046 |
1.35% |
Taiwan Semiconductor Manufacturing Co Ltd |
1.34% |
US Treasury 2.375% May 15 2029 |
1.18% |
US Treasury N/B 2.375% May 15 2027 |
1.05% |
Total |
18.99% |
Top 10 Holdings
Security name Holdings Weight |
Ishares Core S&P 500 ETF
Holding Weight 4.69%
|
Vanguard FTSE Developed Europe ETF
Holding Weight 2.68%
|
Tencent Hldgs Ltd
Holding Weight 2.17%
|
US Treasury N/B 2.875% Nov 15 2046
Holding Weight 1.58%
|
Alibaba Group Hldg Ltd
Holding Weight 1.48%
|
AIA Group Ltd
Holding Weight 1.47%
|
US Treasury N/B 2.5% Feb 15 2046
Holding Weight 1.35%
|
Taiwan Semiconductor Manufacturing Co Ltd
Holding Weight 1.34%
|
US Treasury 2.375% May 15 2029
Holding Weight 1.18%
|
US Treasury N/B 2.375% May 15 2027
Holding Weight 1.05%
|
Total: 18.99% |
Portfolio Allocation
- • 8.51 Europe Equities
- • 17.82 Hong Kong Equities
- • 5.31 Japan Equities
- • 11.72 North America Equities
- • 5.31 Other Asia Equities
- • 44.86 Other Fixed Income
- • 6.47 Cash & Others
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