Investment Objective
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)
Fund Details
Latest Fund Expense Ratio: 1.09%
Launch Date(dd/mm/yyyy): 01/10/2009
Unit Price: HKD 1.2512
Fund Size: HKD 1,357.4M
Fund Commentary
In Q1, the US Treasury yields fell across the curve, the 2-year Treasury yield decreased by 1.32% to 0.25%, while the 10-year Treasury yield increased by 1.25% to 0.67%. In the US, the Fed slashed its benchmark rates to near zero, and announced that it would conduct quantitative easing in an unlimited fashion and some new lending facilities. The US government reached a deal on a USD 2 trillion fiscal package.
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 |
| 5.44% |
1.95% |
2.13% |
2.16% |
2.16 | -1.55 | 3.26 | 0.85 | 2.97 | N/A |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since Launch
(p.a. %) |
| 5.44% |
1.95% |
2.16% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
| 2.16 | -1.55 | 3.26 | 0.85 | 2.97 | N/A |
Top 10 Holdings
| Security name |
Holdings Weight |
| CMT MTN Pte 2.71% Jul 2026 |
2.2% |
| National Australia Bank 2.38% Nov 2022 |
2.2% |
| CK Property Fin 2.25% Aug 2022 |
1.7% |
| HK Government Bond 1.89% Mar 2032 |
1.6% |
| Ausnet Services Holdings 3.45% Mar 2034 |
1.5% |
| HK Government Bond 2.22% Aug 2024 |
1.5% |
| HK Electric Fin 2.55% Aug 2028 |
1.5% |
| CDBL Funding Two 3.15% Feb 2022 |
1.5% |
| HK Government Bond 1.1% Jan 2023 |
1.5% |
| HK Exchange Fund 2.6% Aug 2024 |
1.4% |
| Total |
16.6% |
Top 10 Holdings
Security name
Holdings Weight |
| CMT MTN Pte 2.71% Jul 2026
Holding Weight 2.2%
|
| National Australia Bank 2.38% Nov 2022
Holding Weight 2.2%
|
| CK Property Fin 2.25% Aug 2022
Holding Weight 1.7%
|
| HK Government Bond 1.89% Mar 2032
Holding Weight 1.6%
|
| Ausnet Services Holdings 3.45% Mar 2034
Holding Weight 1.5%
|
| HK Government Bond 2.22% Aug 2024
Holding Weight 1.5%
|
| HK Electric Fin 2.55% Aug 2028
Holding Weight 1.5%
|
| CDBL Funding Two 3.15% Feb 2022
Holding Weight 1.5%
|
| HK Government Bond 1.1% Jan 2023
Holding Weight 1.5%
|
| HK Exchange Fund 2.6% Aug 2024
Holding Weight 1.4%
|
| Total: 16.6% |
Portfolio Allocation
- • 4.7 Cash & Others
- • 0.0 Term Deposits
- • 51.9 Hong Kong
- • 40.2 Other Asia
- • 0.5 Europe
- • 0.3 North America
- • 0.0 Supranational
- • 2.4 Others
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