BCT (MPF) Pro Choice
Data as of 2026-06-30 · from fund fact sheets · updated quarterly
To provide members with long-term capital appreciation. The underlying APIF invests in a portfolio consisting primarily of Hong Kong dollar denominated bonds (Including government and corporate bonds)
| 3 Months | 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | Year to Date | |
| Cumulative | -0.78% | +0.75% | +12.28% | +3.53% | +12.43% | +31.46% | -0.15% |
| Annualised | — | +0.75% | +3.94% | +0.70% | +1.18% | +1.65% | — |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| Return (%) | +5.48% | +3.02% | +5.96% | -9.07% | -1.37% |
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 (%) | -0.45% | -0.23% | +0.01% | +4.71% | +6.80% | +8.58% | +13.84% |
| 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | |
| Return (% p.a.) | +0.01% | +3.13% | +2.65% | +1.64% | +1.52% |
| 2021 | 2022 | 2023 | 2024 | 2025 | YTD | |
| Return (%) | -0.45% | -2.73% | +3.28% | +1.30% | +1.81% | N/A |
In Q2, geopolitics and technology continued to dominate market movements. Risk sentiment turned decisively positive as the war in the Middle East began to de- escalate. Global bond markets didn’t have a clear direction in the Q2 as markets evaluated the impact of energy price volatility on inflation and growth. Currently, there is little evidence that higher inflation is feeding through to higher wages. Despite a relatively tight labour market with an unemployment rate of 4.3% and healthy private payroll growth, average hourly earnings for all workers rose just 3.5% in May, the second-smallest gain in five years. Not surprisingly, the Fed held interest rates at 3.50%-3.75%, but both the statement and press conference skewed hawkish. In rates, ten-year U.S. Treasuries ended Q2 at 4.47% (up from 4.31% at March-end), ten-year Bunds at 2.91% (3.00% prior), and ten-year Gilts at 4.77% (4.88% prior).
Note: negative allocation values are drawn at absolute size; labels show the actual values.
| # | Security name | Holdings Weight |
| 1 | Hong Kong Mortgage Corp 3.45% Oct 2029 | 2.4% |
| 2 | IFC Development 2.67% Apr 2030 | 2.2% |
| 3 | HK Gov't Bond Programme 2.02% Mar 2034 | 2.2% |
| 4 | HK Government Bond 1.89% Mar 2032 | 2.1% |
| 5 | State Grid Overseas Inv 2.85% Apr 2029 | 1.7% |
| 6 | Urban Renewal Authority 3.45% Aug 2029 | 1.7% |
| 7 | ASB Bank Ltd 1.4% Aug 2028 | 1.6% |
| 8 | Hong Kong Government Bond 3.74% Jan 2038 | 1.5% |
| 9 | HK Government Bond 2.7% May 2030 | 1.5% |
| 10 | Airport Authority HK 4.05% Jan 2028 | 1.4% |
| Total | 18.3% |
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.