Investment Objective
To provide members with long-term capital growth.A portfolio of underlying APIFs invests primarily in equity securities listed on the stock exchanges of Asia Pacific markets (excluding Japan, Australian and New Zealand).The constituent fund utilizes both active investment strategy and rule-based investment strategy 11
Fund Details
Latest Fund Expense Ratio: 1.66%
Launch Date(dd/mm/yyyy): 01/05/2004
Unit Price: HKD 2.8943
Fund Size: HKD 2,993.1M
Fund Commentary
Asia ex Japan equities declined sharply in Q1, as COVID-19 became a pandemic and the prospect of a global recession loomed. US dollar strength was a drag on returns. Southeast Asian markets were notably weak, underperforming the broader regional index. The MSCI Asia Pacific ex Japan posted -18.38%. The Australian AS30 depreciated by 24.9%, whilst in Japan, the Topix fell 18.5% and the Nikkei fell 19.4%. The Chinese market had a relatively decent quarter with the Shanghai Composite falling 9.8%. Across the water in Hong Kong, the Hang Seng Index was down 16.3%. Other Asian indices fared less well. The South Korean KOSPI market followed the decline in the region and posted a 20.2% loss. The Indian Sensex and Nifty indices also fell 28.6% and 29.3% respectively.
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 |
| -18.45% |
-0.11% |
3.37% |
6.90% |
-8.41 | 3.35 | 39.39 | -12.90 | 13.75 | N/A |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since launch
(p.a. %) |
| -18.45% |
-0.11% |
6.90% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | YTD |
| -8.41 | 3.35 | 39.39 | -12.90 | 13.75 | N/A |
Top 10 Holdings
| Security name |
Holdings Weight |
| Tencent Holdings |
9.2% |
| Samsung Electronics Co Ltd |
7.3% |
| Taiwan Semiconductor Mfg |
6.5% |
| AIA Group Ltd |
4.4% |
| Ping An Insurance |
2.2% |
| Alibaba Group Holding Ltd |
2.0% |
| CCB |
1.9% |
| China Mengniu Dairy |
1.6% |
| HDFC Bank Ltd |
1.4% |
| NCSOFT Corp |
1.4% |
| Total |
37.9% |
Top 10 Holdings
Security name
Holdings Weight |
| Tencent Holdings
Holding Weight 9.2%
|
| Samsung Electronics Co Ltd
Holding Weight 7.3%
|
| Taiwan Semiconductor Mfg
Holding Weight 6.5%
|
| AIA Group Ltd
Holding Weight 4.4%
|
| Ping An Insurance
Holding Weight 2.2%
|
| Alibaba Group Holding Ltd
Holding Weight 2.0%
|
| CCB
Holding Weight 1.9%
|
| China Mengniu Dairy
Holding Weight 1.6%
|
| HDFC Bank Ltd
Holding Weight 1.4%
|
| NCSOFT Corp
Holding Weight 1.4%
|
| Total: 37.9% |
Portfolio Allocation
- • 3.4 Cash & Others
- • 0.0 Term Deposits
- • 48.9 China / Hong Kong
- • 12.9 Taiwan
- • 3.2 Singapore
- • 14.5 Korea
- • 12.8 India
- • 4.3 Others
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