Investment Objective

To achieve long term capital appreciation by investing solely in the Invesco Pooled Investment Fund - Hong Kong and China Fund which is an APIF and in turn invests in Hong Kong and China-related securities.

Fund Details

Latest Fund Expense Ratio: 1.28%

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

Unit Price: HKD 14.6142

Fund Size: HKD 131.54M

Fund Commentary

Offshore Chinese equities finished lower in March. It however maintained its outperformance against global peers. China has flattened the infection curve with majority of recent reported cases from overseas. Businesses have largely resumed normal operations. This has been reflected in the official manufacturing PMI in March. Economic activities data released for the first two months showed a sharp contraction across investments, trade and consumption, and we expect real GDP growth to be negative in the first quarter. The People’s Bank of China (PBoC) lowered reverse repo rate by another 20bps prior to the meeting and pledged more targeted support to small and medium enterprises, particularly those most affected by COVID-19. Healthcare retained its position as the best performing sector in March given its positive linkage to the pandemic and the expected increase in demand for medical products and services. Communication services was also more resilient thanks to limited impacts to consumption of digital entertainment and social media.

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