Investment Objective

To provide capital growth to members by investing in a globally diversified manner. The underlying APIF (through its investment into two other Approved Pooled Investment Funds) invests primarily in a portfolio of global equities, and a portfolio of global fixed income securities.

Fund Details

Latest Fund Expense Ratio: 0.85%

Launch Date(dd/mm/yyyy): 01/04/2017

Unit Price: HKD 1.0468

Fund Size: HKD 886.4M

Fund Commentary

Q1 went down as one of the most volatile periods in market history, due to a health crisis caused by the global spread of COVID-19, an oil price war between Saudi Arabia and Russia and a credit and liquidity crisis resulting from the sharp drop in prices for risk assets. Global equity markets witnessed one of the most rapid descents into bear market territory on record. Global government bonds offered safe-haven returns but were not spared from volatility, as the dash for liquidity which resulted in a sharp sell-off during the period eventually stabilised. The speed and depth of the carnage forced central bankers to undertake historic coordinated policy actions to try to stem damage to capital markets and thaw frozen credit markets.

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