Investment Objective
To seek long-term capital growth by primarily investing in a portfolio of bonds in the Asia-Pacific region (excluding Japan), issued by, amongst others, government, supranational organisations and corporates. This fund is a feeder fund investing solely in an approved pooled investment fund.
Fund Details
Latest Fund Expense Ratio: 0.78%
Launch Date(dd/mm/yyyy): 23/09/2011
Unit Price: HKD 111.34
Fund Size: HKD 1,227.40M
Fund Commentary
The fund recorded -2.52% return in March. By the end of March, the 2-year US Treasury yield decreased by 67bps and 10-year US Treasury yield decreased by 48bps to 0.25% and 0.67% respectively. Policymakers have delivered sizeable fiscal stimulus packages and quantitative easing programs, with talk of more to come. In order to assess whether we enter a recession, we are closely monitoring indicators of long-term scarring, including job losses and corporate bankruptcies. The fund holds long duration position. We are currently focusing on slightly building more carry and taking profits on quality duration.
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 | Year To Date |
| 0.04% |
1.36% |
N/A% |
1.27% |
-2.57 | -0.27 | 7.77 | -0.68 | 5.38 | N/A |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since Launch
(p.a. %) |
| 0.04% |
1.36% |
1.27% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
| -2.57 | -0.27 | 7.77 | -0.68 | 5.38 | N/A |
Top 10 Holdings
| Security name |
Holdings Weight |
| KOREA TREASURY NO3509 2.625% 10/09/2035 |
5.27% |
| SINGAPORE GOVERNMENT 3.375% 01/09/2033 |
5.27% |
| HK EXCHANGE FUND 2.240% 27/08/29 |
4.05% |
| HK EXCHANGE FUND 1.940% 04/12/2023 |
3.73% |
| HK EXCHANGE FUND 0.800% 27/08/2027 |
3.49% |
| HK EXCHANGE FUND 2.480% 28/02/2029 |
3.44% |
| THAILAND GOVERNMENT 2.125% 17/12/2026 |
3.14% |
| AUSTRALIAN GOVERNMENT NO140 4.500% 21/04/2033 |
3.05% |
| THAILAND GOVERNMENT 3.775% 25/06/2032 |
2.74% |
| MALAYSIAN GOVERNMENT NO0413 3.844% 15/04/2033 |
2.62% |
| Total |
36.8% |
Top 10 Holdings
Security name
Holdings Weight |
| KOREA TREASURY NO3509 2.625% 10/09/2035
Holding Weight 5.27%
|
| SINGAPORE GOVERNMENT 3.375% 01/09/2033
Holding Weight 5.27%
|
| HK EXCHANGE FUND 2.240% 27/08/29
Holding Weight 4.05%
|
| HK EXCHANGE FUND 1.940% 04/12/2023
Holding Weight 3.73%
|
| HK EXCHANGE FUND 0.800% 27/08/2027
Holding Weight 3.49%
|
| HK EXCHANGE FUND 2.480% 28/02/2029
Holding Weight 3.44%
|
| THAILAND GOVERNMENT 2.125% 17/12/2026
Holding Weight 3.14%
|
| AUSTRALIAN GOVERNMENT NO140 4.500% 21/04/2033
Holding Weight 3.05%
|
| THAILAND GOVERNMENT 3.775% 25/06/2032
Holding Weight 2.74%
|
| MALAYSIAN GOVERNMENT NO0413 3.844% 15/04/2033
Holding Weight 2.62%
|
| Total: 36.8% |
Portfolio Allocation
- • 11.70 Australia
- • 6.76 China
- • 28.32 Hong Kong
- • 10.66 Korea
- • 6.82 Malaysia
- • 10.27 Singapore
- • 9.31 Thailand
- • 12.29 Other Countries
- • 3.87 Cash and Others
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