Investment Objective
The objective of the Fund is to achieve long term capital growth by investing mainly in Greater China-related equities.
Fund Details
Latest Fund Expense Ratio: 1.72%
Launch Date(dd/mm/yyyy): 15/11/2010
Unit Price: HKD 24.0507
Fund Size: HKD 236.8M
Fund Commentary
The Greater China equities declined amid growing concerns that the COVID-19 pandemic would result in a global recession. A sharp drop in global oil price and global liquidity crunch in March further weighed down risk assets. However, Greater China equities still fared better than the broader region, helped in part by stimulus measures and cuts in rates from the People’s Bank of China. Towards the end of March, it appeared that the draconian measures employed in China had stemmed the spread of the COVID-19 outbreak. Workers gradually returned to factories, and quarantine measures in the province of Hubei were also slowly lifted. China’s official Purchasing Managers’ Index of manufacturing activity rebounded to a stronger-than-expected reading of 52.0 in March. Taiwan was the worst-performing market while China held up the best.
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 |
| -5.05% |
0.83% |
N/A% |
1.99% |
-6.85 | 2.22 | 32.90 | -19.92 | 20.37 | -10.39 |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since launch
(p.a. %) |
| -5.05% |
0.83% |
1.99% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | YTD |
| -6.85 | 2.22 | 32.90 | -19.92 | 20.37 | -10.39 |
Top 10 Holdings
| Security name |
Holdings Weight |
| Tencent Holdings Ltd |
9.7% |
| Taiwan Semiconductor Manufacturing Co Ltd |
9.2% |
| Alibaba Group Holding Ltd |
8.9% |
| AIA Group Ltd |
6.1% |
| Hong Kong Exchanges and Clearing Ltd |
5.8% |
| Sino Biopharmaceutical Ltd |
3.6% |
| Ping An Insurance (Group) Co of China Ltd H |
3.0% |
| Country Garden Services Holdings Co Ltd |
2.9% |
| China Mengniu Dairy Co Ltd |
2.8% |
| Meituan Dianping-Class B |
2.7% |
| Total |
54.7% |
Top 10 Holdings
Security name
Holdings Weight |
| Tencent Holdings Ltd
Holding Weight 9.7%
|
| Taiwan Semiconductor Manufacturing Co Ltd
Holding Weight 9.2%
|
| Alibaba Group Holding Ltd
Holding Weight 8.9%
|
| AIA Group Ltd
Holding Weight 6.1%
|
| Hong Kong Exchanges and Clearing Ltd
Holding Weight 5.8%
|
| Sino Biopharmaceutical Ltd
Holding Weight 3.6%
|
| Ping An Insurance (Group) Co of China Ltd H
Holding Weight 3.0%
|
| Country Garden Services Holdings Co Ltd
Holding Weight 2.9%
|
| China Mengniu Dairy Co Ltd
Holding Weight 2.8%
|
| Meituan Dianping-Class B
Holding Weight 2.7%
|
| Total: 54.7% |
Portfolio Allocation
- • 3.0 Net Liquidity
- • 59.0 China Equities
- • 20.0 Hong Kong Equities
- • 18.0 Taiwan Equities
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