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.

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