Investment Objective
To provide members with capital appreciation over the long term A portfolio of underlying APIFs invests primarily in global equities with the flexibility to invest in fixed income securities The constituent fund utilizes both active investment strategy and rulebased investment strategy
Fund Details
Latest Fund Expense Ratio: 1.51%
Launch Date(dd/mm/yyyy): 27/10/2008
Unit Price: HKD 1.9064
Fund Size: HKD 604.1M
Fund Commentary
The rapid emergence and spread of COVID-19 in Europe and the US were the main drivers of market performance during the quarter. As lockdowns proved to be one of the most efficient ways to slow the spread of COVID-19, investors began to factor in widespread and deep falls in economic activity. Central banks and governments have reacted with considerable speed in implementing monetary and fiscal policy packages that can help in the very short term. Looking at headline returns, fixed income markets (the US Treasuries, the UK Gilts and German Bunds), Gold and the Japanese Yen were the only major asset classes to deliver positive returns over the quarter, whilst at the other end of the scale, oil was the stand-out loser after the disagreement between Saudi Arabia and Russia over production levels.
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 |
| -13.93% |
-0.14% |
3.01% |
5.80% |
-1.93 | 0.68 | 28.19 | -13.12 | 16.27 | N/A |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since Launch
(p.a. %) |
| -13.93% |
-0.14% |
5.80% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
| -1.93 | 0.68 | 28.19 | -13.12 | 16.27 | N/A |
Top 10 Holdings
| Security name |
Holdings Weight |
| Tencent Holdings |
3.9% |
| AIA Group Ltd |
2.0% |
| CCB |
1.5% |
| Samsung Electronics Co Ltd |
1.3% |
| ICBC |
1.1% |
| Ping An Insurance |
1.1% |
| Microsoft Corp |
1.0% |
| HSBC Holdings |
0.9% |
| Apple Inc |
0.8% |
| Taiwan Semiconductor Mfg |
0.8% |
| Total |
14.4% |
Top 10 Holdings
Security name
Holdings Weight |
| Tencent Holdings
Holding Weight 3.9%
|
| AIA Group Ltd
Holding Weight 2.0%
|
| CCB
Holding Weight 1.5%
|
| Samsung Electronics Co Ltd
Holding Weight 1.3%
|
| ICBC
Holding Weight 1.1%
|
| Ping An Insurance
Holding Weight 1.1%
|
| Microsoft Corp
Holding Weight 1.0%
|
| HSBC Holdings
Holding Weight 0.9%
|
| Apple Inc
Holding Weight 0.8%
|
| Taiwan Semiconductor Mfg
Holding Weight 0.8%
|
| Total: 14.4% |
Portfolio Allocation
- • 2.3 Cash & Others
- • 0.0 Term Deposits
- • 11.2 Global Fixed Income Securities
- • 29.2 China / Hong Kong
- • 11.7 Japan
- • 5.9 Other Asia Pacific
- • 17.8 North America
- • 18.0 Europe
- • 0.5 Latin America
- • 3.4 Others
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