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.
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 | Year To Date |
-4.50% |
N/A% |
N/A% |
1.53% |
N/A | N/A | 9.06 | -6.54 | 15.82 | N/A |
Fund Performance Information
Annualised return |
1 year (p.a. %) |
5 years (p.a. %) |
Since Launch (p.a. %) |
-4.50% |
N/A% |
1.53% |
Calendar year return |
2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
N/A | N/A | 9.06 | -6.54 | 15.82 | N/A |
Top 10 Holdings
Security name |
Holdings Weight |
US Treasury N/B 2.375% Aug 2024 |
4.5% |
US Treasury N/B 1.375% Apr 2021 |
3.5% |
Microsoft Corp |
2.3% |
Apple Inc |
2.1% |
Norwegian Government Bond 2% Apr 2028 |
1.8% |
US Treasury N/B 3% Feb 2048 |
1.6% |
Amazon.com Inc |
1.5% |
US Treasury N/B 2.75% Feb 2028 |
1.4% |
Sweden Government Bond 2.25% Jun 2032 |
1.4% |
Alphabet Inc Class C |
1.0% |
Total |
21.1% |
Top 10 Holdings
Security name Holdings Weight |
US Treasury N/B 2.375% Aug 2024
Holding Weight 4.5%
|
US Treasury N/B 1.375% Apr 2021
Holding Weight 3.5%
|
Microsoft Corp
Holding Weight 2.3%
|
Apple Inc
Holding Weight 2.1%
|
Norwegian Government Bond 2% Apr 2028
Holding Weight 1.8%
|
US Treasury N/B 3% Feb 2048
Holding Weight 1.6%
|
Amazon.com Inc
Holding Weight 1.5%
|
US Treasury N/B 2.75% Feb 2028
Holding Weight 1.4%
|
Sweden Government Bond 2.25% Jun 2032
Holding Weight 1.4%
|
Alphabet Inc Class C
Holding Weight 1.0%
|
Total: 21.1% |
Portfolio Allocation
- • 2.5 Cash & Others
- • 0.0 Term Deposits
- • 36.2 Global Fixed Income Securities
- • 2.6 China/Hong Kong
- • 5.1 Japan
- • 3.5 Other Asia Pacific
- • 38.0 North America
- • 11.5 Europe
- • 0.6 Others
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