AIA MPF - Prime Value Choice
Data as of 2026-06-30
Top-10 holdings are 10.2% of the fund. HSBC Holdings at 1.3% is the largest single position. The top three together are 3.7%. The portfolio is broadly spread. By sector: semiconductors 2.8%, tech and internet 2.4%, banks 2.3%. By geography: US 2.7%, HK-listed China 2.4%, Hong Kong 2.3%.
No single macro theme dominates. The portfolio is positioned to move with broad market direction rather than any specific cycle. In a choppy, liquidity-tightening environment that neutrality is defensive; in a trending market it means keeping pace, not leading.
The manager's independent bets include HSBC Holdings (1.3%), Alibaba Group Holding (1.2%), Tencent Holdings (1.2%) — positions most peers don't hold. These are where the manager's judgment lives or dies.
Balanced with no dominant style; top-10 concentration 10.2%. Highly independent, high-conviction management (active share 100.0%); expect sharp peer deviations. No strong cyclical tilt — stock selection, not macro rotation, will drive returns. Diversified portfolios have manageable volatility — suitable as a foundation; aggressive investors can add thematic satellites.
To maximise long-term capital appreciation in Hong Kong dollar terms within moderate risk parameters and to outperform Hong Kong price inflation over the long term through a professionally managed portfolio, invested in two or more approved pooled investment funds.
| 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | YTD | |
| Cumulative | +11.00% | +29.98% | +8.67% | +49.93% | +173.68% | +5.20% |
| Annualised | +11.00% | +9.13% | +1.68% | +4.13% | +4.01% | — |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| Return (%) | +15.90% | +4.72% | +4.69% | -16.22% | +0.19% |
Returns are net of fees. Past performance is not indicative of future returns.
| 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | YTD | |
| Return (%) | +4.24% | +17.38% | +20.35% | +25.29% | +69.28% | +1.42% |
| 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | |
| Return (% p.a.) | +4.24% | +5.49% | +3.77% | +2.28% | +2.08% |
| 2021 | 2022 | 2023 | 2024 | 2025 | YTD | |
| Return (%) | -1.16% | -3.44% | +2.42% | +1.53% | +6.25% | N/A |
The fund recorded -1.11% return in June. The main detractors were Hong Kong equities. The FTSE MPF All World Index was down by 0.8% in June. Although Technology sector in the United States experienced bouts of mid-month volatility, Artificial Intelligence-linked and semiconductor companies in Asia continued to do well. The United States and Iran signed a fragile ceasefire agreement in the middle of June, halting direct hostilities and reopening the Strait of Hormuz to global shipping after almost four months of closure. While this agreement set in place a 60 day negotiation window, it was quickly tested by mutual accusations of violations by both countries that show the complexities and political uncertainty around any attempts towards permanent peace. The Hang Seng Index went down by 9.1% in June. The Property sector was under heavy profit-taking pressure after months of rallies. China's crackdown on illegal cross-border investments sent the share prices of banks and insurance companies down. The Hang Seng China Enterprises Index lost 10.3%. Retail sales in China remained weak and contracted by 0.6% year-on-year in May. The FTSE MPF World Government Bond Index (35% HKD Hedged) was mildly down by 0.3% in June. Bond investors moved away from early-year optimism about rate cuts toward debates over whether the Federal Reserve may need to hold rates higher for longer. In June, the 10-year United States Treasury yield hovered around 4.4%. The Federal Reserve kept policy interest rates unchanged at the Federal Open Market Committee meeting. Strong labour data and sticky inflation in the United States reinforced the higher for longer narrative.
| # | Security name | Holdings Weight |
| 1 | HSBC HOLDINGS PLC | 1.31% |
| 2 | ALIBABA GROUP HOLDING LTD | 1.21% |
| 3 | TENCENT HOLDINGS LTD | 1.20% |
| 4 | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | 1.07% |
| 5 | US TREASURY N/B 4.250% 15/11/2034 | 1.00% |
| 6 | DAH SING BANK HKG 2.200% 01/06/2026 | 0.95% |
| 7 | SAMSUNG ELECTRONICS CO LTD | 0.88% |
| 8 | US TREASURY N/B 3.000% 15/02/2048 | 0.86% |
| 9 | NVIDIA CORP | 0.86% |
| 10 | SK HYNIX | 0.83% |
| Total | 10.17% |
The fund expense ratio shows the total annual cost of running this fund as a percentage of its assets. It is already reflected in the fund price and returns. When comparing similar funds, fees are one of the few factors you can control.