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.
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 |
-14.93% |
1.20% |
2.57% |
3.60% |
-6.08 | -0.07 | 42.50 | -14.25 | 14.59 | N/A |
Fund Performance Information
Annualised return |
1 year (p.a. %) |
5 years (p.a. %) |
Since launch (p.a. %) |
-14.93% |
1.20% |
3.60% |
Calendar year return |
2015 | 2016 | 2017 | 2018 | 2019 | YTD |
-6.08 | -0.07 | 42.50 | -14.25 | 14.59 | N/A |
Top 10 Holdings
Security name |
Holdings Weight |
Tencent Hldgs Ltd |
9.69% |
AIA Group Ltd |
9.04% |
China Construction Bank- H share |
6.14% |
HSBC Hldgs Plc |
4.52% |
Ping An Insurance (Group) Co of China Ltd- H share |
4.27% |
Hong Kong Exchanges & Clearing Ltd |
3.65% |
Alibaba Group Hldg Ltd |
3.08% |
Industrial & Commercial Bank of China- H share |
2.67% |
Sun Hung Kai Properties Ltd |
2.43% |
Sun Art Retail Group Ltd |
2.29% |
Total |
47.78% |
Top 10 Holdings
Security name Holdings Weight |
Tencent Hldgs Ltd
Holding Weight 9.69%
|
AIA Group Ltd
Holding Weight 9.04%
|
China Construction Bank- H share
Holding Weight 6.14%
|
HSBC Hldgs Plc
Holding Weight 4.52%
|
Ping An Insurance (Group) Co of China Ltd- H share
Holding Weight 4.27%
|
Hong Kong Exchanges & Clearing Ltd
Holding Weight 3.65%
|
Alibaba Group Hldg Ltd
Holding Weight 3.08%
|
Industrial & Commercial Bank of China- H share
Holding Weight 2.67%
|
Sun Hung Kai Properties Ltd
Holding Weight 2.43%
|
Sun Art Retail Group Ltd
Holding Weight 2.29%
|
Total: 47.78% |
Portfolio Allocation
- • 88.20 Hong Kong & China Equities
- • 2.84 Other Asia Pacific Equities
- • 5.38 North America Equities
- • 3.59 Cash & Others
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