BCT (MPF) Pro Choice
Data as of 2026-06-30
Top-10 holdings are 47.9% of the fund. HSBC Holdings at 9.0% is the largest single position. The top three together are 23.3%. This is a concentrated portfolio. As an index tracker, return equals the index minus fees and tracking error — there is no stock-picking alpha to assess.
The financials tilt in the top 10 has a rates angle. Systematic models put 10-year fair value well above current yields. If the long end stays elevated, dividend-paying banks and insurers screen relatively better than long-duration growth. Rate pressure is a tailwind for this sleeve — but it cuts the other way for any growth holdings in the mix. With this much China exposure in the top 10, China policy is the swing factor. Stimulus measures support domestic banks and consumption names, while property-sector overhang remains the drag. This portfolio rises or falls with Beijing's policy follow-through. One caveat: concentration amplifies macro moves. When funding liquidity tightens, concentrated portfolios tend to chop harder than diversified ones.
As an index tracker, stock selection is not the manager's call — the index decides. What matters is tracking: how closely the fund follows its benchmark, and at what cost.
Passive index tracker with top-10 concentration of 47.9%; return equals index minus fees. Can serve as a portfolio core, paired with other styles for diversification. Suggested horizon 5+ years.
To provide members with long-term capital appreciation. nvesting solely in a single Index Tracking Collective Investment Scheme (ITCIS) (currently, the Tracker Fund of Hong Kong which invests all, or substantially all, of its assets in the shares of constituent companies of the Hang Seng Index in substantially similar composition and weighting as they appear therein), and thereby aims to achieve investment results that closely track the performance of the Hang Seng Index.
| 3 Months | 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | Year to Date | |
| Cumulative | -6.69% | -3.28% | +31.46% | -9.66% | +39.96% | +58.42% | -9.66% |
| Annualised | — | -3.28% | +9.55% | -2.01% | +3.42% | +2.78% | — |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| Return (%) | +30.20% | +21.83% | -11.26% | -13.27% | -12.58% |
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 (%) | -8.98% | -6.23% | -9.31% | +14.83% | +17.46% | +10.84% | +24.68% |
| 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | |
| Return (% p.a.) | -9.31% | +9.30% | +6.39% | +2.04% | +2.56% |
| 2021 | 2022 | 2023 | 2024 | 2025 | YTD | |
| Return (%) | -11.29% | +0.09% | -7.88% | +13.10% | +7.65% | N/A |
Hong Kong’s IPO market remained one of the strongest globally in the first half of 2026. By the end of June, funds raised exceeded HK$200 billion, the strongest first- half performance in five years. But HK & China equities, measured by Hang Seng Index, declined 7.7% over the quarter. Index was positive in March but then detracted in May and June. In sector perspective, consumers, energy and utilities, declined the most during the quarter. Investment sentiment also weighed on by the central government escalated its capital controls by implementing State Council Decree No. 837 (Provisions on Outbound Investment), which would take effect on July 1, 2026. This regulatory shift elevates outbound investment to an administrative law and restricts both corporate and individual cross-border flows to safeguard national security and data sovereignty.
| # | Security name | Holdings Weight |
| 1 | HSBC Holdings | 9.0% |
| 2 | Tencent Holdings | 8.0% |
| 3 | Alibaba Group Holding Ltd | 6.3% |
| 4 | China Construction Bank Corporation | 5.1% |
| 5 | AIA Group Ltd | 4.9% |
| 6 | Industrial and Commercial Bank of China | 3.5% |
| 7 | China Mobile | 3.1% |
| 8 | Hong Kong Exchanges & Clearing Ltd | 2.9% |
| 9 | Xiaomi Corp | 2.6% |
| 10 | Meituan | 2.5% |
| Total | 47.9% |
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.