Investment Objective
To provide members with long-term capital appreciation. A portfolio of underlying APIFs invests primarily in a portfolio of equity securities listed in Europe (including the United Kingdom). The constituent fund utilizes both active investment strategy and rule-based investment strategy.
Fund Details
Latest Fund Expense Ratio: 1.61%
Launch Date(dd/mm/yyyy): 01/01/2008
Unit Price: HKD 0.9669
Fund Size: HKD 472.9M
Fund Commentary
The MSCI Europe was down 22.3%. The MSCI EMU and the Euro Stoxx 50 slightly underperformed with returns of -25.3% and -25.3% respectively. The Danish OMX 20 led the way in Europe, only falling 5.5%, whilst the Swiss SMI and the Portuguese PSI fared reasonably well. On the downside, the Greek market fell over 39% whilst the Spanish IBEX fell 28.9%. Other major European indices such as the DAX (-25%), CAC40 (-26.5%) and Italian FTSE MIB (-27.5%) were not immune from global sentiment. In the UK, it showed a similar situation to that in the US, where large caps outperformed small domestically-focused stocks. The FTSE 100 fell 24.8%, the FTSE 250 fell 31% and the FTSE Small Cap fell 28%.
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 |
| -22.14% |
-5.02% |
2.04% |
-0.27% |
-1.49 | -0.70 | 18.77 | -15.48 | 17.05 | N/A |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since launch
(p.a. %) |
| -22.14% |
-5.02% |
-0.27% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | YTD |
| -1.49 | -0.70 | 18.77 | -15.48 | 17.05 | N/A |
Top 10 Holdings
| Security name |
Holdings Weight |
| Roche Holding AG-Genusschein |
4.3% |
| Sanofi SA |
3.9% |
| Glaxosmithkline PLC |
2.5% |
| Novartis AG |
2.5% |
| SAP SE |
2.3% |
| Bayer AG |
2.2% |
| UPM-Kymmene Oyj |
2.2% |
| BAE Systems PLC |
2.0% |
| Deutsche Post AG |
2.0% |
| Orange SA |
1.8% |
| Total |
25.7% |
Top 10 Holdings
Security name
Holdings Weight |
| Roche Holding AG-Genusschein
Holding Weight 4.3%
|
| Sanofi SA
Holding Weight 3.9%
|
| Glaxosmithkline PLC
Holding Weight 2.5%
|
| Novartis AG
Holding Weight 2.5%
|
| SAP SE
Holding Weight 2.3%
|
| Bayer AG
Holding Weight 2.2%
|
| UPM-Kymmene Oyj
Holding Weight 2.2%
|
| BAE Systems PLC
Holding Weight 2.0%
|
| Deutsche Post AG
Holding Weight 2.0%
|
| Orange SA
Holding Weight 1.8%
|
| Total: 25.7% |
Portfolio Allocation
- • 4.6 Cash & Others
- • 0.0 Term Deposits
- • 4.6 Finland
- • 18.9 France
- • 11.3 Germany
- • 4.8 Italy
- • 5.4 Netherlands
- • 3.6 Spain
- • 9.9 Switzerland
- • 23.6 United Kingdom
- • 13.3 Others
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