BCT (MPF) Pro Choice
Data as of 2026-06-30 · from fund fact sheets · updated quarterly
To provide members with total investment return over the medium to long term. A portfolio of underlying APIFs invests primarily into investment-grade global fixed income securities (including bonds traded on the China interbank bond market via the Bond Connect) issued by governments, governmental agencies, local and public authorities as well as corporates. The constituent fund utilizes both active investment strategy and rulebased investment strategy
| 3 Months | 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | Year to Date | |
| Cumulative | +1.22% | -0.19% | +6.11% | -11.32% | -4.32% | +49.23% | +0.24% |
| Annualised | — | -0.19% | +2.00% | -2.37% | -0.44% | +1.70% | — |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| Return (%) | +5.36% | -2.63% | +4.95% | -15.97% | -6.07% |
Returns are net of fees. Past performance is not indicative of future returns.
| Year to Date | 3 Months | 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | |
| Return (%) | -0.19% | -0.03% | +0.21% | +3.15% | +1.94% | -2.46% | +2.73% |
| 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | |
| Return (% p.a.) | +0.21% | +2.11% | +0.78% | -0.51% | +0.23% |
| 2021 | 2022 | 2023 | 2024 | 2025 | YTD | |
| Return (%) | -2.05% | -4.67% | +3.32% | -1.11% | +1.33% | N/A |
Government bond markets were positive overall but remained volatile in Q2, with yields tracking energy price swings. In terms of performance, the Bloomberg US Treasury Total Return Index added +0.3%, underperforming both euro treasuries (+1.9%) and UK gilts (+2.1%). Emerging market bonds outperformed, with the Bloomberg EM Local Currency Index returning +2.80%. Central banks were becoming less willing to “look through” inflation shocks despite lingering growth risks. The Federal Reserve held rates at 3.50%- 3.75%, with Kevin Warsh’s leadership transition in June anchoring expectations of a restrictive but non-mechanical policy stance. The European Central Bank raised rates by 25 bps to 2.25% in June, citing above-target inflation and energy-driven price pressures, while also revising inflation forecasts higher and trimming growth projections. The Bank of England held rates unchanged at 3.75%, with gilts influenced by domestic political developments including PM Keir Starmer’s resignation. The Bank of Japan raised rates by 25 bps to 1.00%, to resist the continued depreciation of the yen.
| # | Security name | Holdings Weight |
| 1 | US Treasury N/B 4.625% Apr 2029 | 9.0% |
| 2 | US Treasury Inflation Indexed Bond 1.25% Apr 2031 | 4.3% |
| 3 | China Government Bond 2.67% May 2033 | 2.7% |
| 4 | Mex Bonos Desarr Fix Rt 8% Apr 2032 | 2.6% |
| 5 | Czech Republic 3.5% May 2035 | 1.6% |
| 6 | US Treasury N/B 1.375% Aug 2050 | 1.6% |
| 7 | Ontario (Province of) 3.8% Dec 2034 | 1.3% |
| 8 | France Government Bond OAT 2.7% Feb 2031 | 1.3% |
| 9 | Buoni Poliennali Del Tes 3.45% Feb 2036 | 1.1% |
| 10 | US Treasury N/B 2.875% May 2032 | 1.1% |
| Total | 26.6% |
The fund expense ratio shows the total annual cost of running this fund as a percentage of its assets. It is already reflected in the fund price and returns. When comparing similar funds, fees are one of the few factors you can control.