Investment Objective
The investment objective of the BOC-Prudential Age 65 Plus Fund is to seek to provide stable growth for the retirement savings to members by investing in a globally diversified manner. It aims to achieve a performance that is referenced against the Reference Portfolio. However, it should be noted that the performance of the BOC-Prudential Age 65 Plus Fund and the performance of the Reference Portfolio may diverge. Potential divergence may be caused by factors such as composition of the underlying assets, liquidity of the market and timing differences for changes to the underlying investment portfolio. The BOC-Prudential Age 65 Plus Fund targets to hold 20% of its assets in higher risk assets14 through investing in a combination of equity sub-funds of the Umbrella Unit Trust9 and/or ITCIS† , with the remainder investing in lower risk assets15 through investing in a combination of bond sub-funds of the Umbrella Unit Trust9 and/or ITCIS† . The asset allocation of higher risk assets14 may vary between 15% and 25% due to differing price movements of various equity and bond markets. The BOC-Prudential Age 65 Plus Fund adopts the following investment strategy: it utilizes index tracking ITCIS† and/or actively managed sub-funds of the Umbrella Unit Trust9 to provide exposure to equity and bond markets. The Investment Manager may, subject to the DIS-related MPF legislation and requirements, have the flexibility to allocate the assets among sub-funds of the Umbrella Unit Trust9 and/or ITCIS† (s) in such proportions as it shall, at its discretion, determine. The risk level of the BOC-Prudential Age 65 Plus Fund is medium2 .
Fund Details
Latest Fund Expense Ratio: 0.83%
Launch Date(dd/mm/yyyy): 01/04/2017
Unit Price: HKD 11.0188
Fund Size: HKD 702.94M
Fund Commentary
The Fund posted a negative return over the quarter. Equity investments in Europe underperformed. Global fixed income registered a gain as global government bond yields declined. At the asset allocation level, we maintained a neutral weight against benchmark. In the near term, duration of the coronavirus pandemic and the severity of economic contraction due to lockdowns to halt the spread of the virus are key drivers for financial markets. As a result, volatility in markets will remain elevated as investors’ sentiment will be driven by daily news flow.
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 |
| 4.27% |
N/A% |
N/A% |
3.29% |
N/A | N/A | 3.05 | -1.40 | 9.67 | N/A |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since Launch
(p.a. %) |
| 4.27% |
N/A% |
3.29% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
| N/A | N/A | 3.05 | -1.40 | 9.67 | N/A |
Top 10 Holdings
| Security name |
Holdings Weight |
| MICROSOFT CORP |
0.7% |
| APPLE INC |
0.6% |
| AMAZON.COM INC |
0.5% |
| US TREASURY N/B 2% S/A 15AUG2025 |
0.4% |
| US TREASURY N/B 2.375% S/A 15MAY2027 |
0.3% |
| US TREASURY N/B 2.25% S/A 15AUG2027 |
0.3% |
| US TREASURY N/B 2.25% S/A 30APR2021 |
0.3% |
| US TREASURY N/B 2.25% S/A 15NOV2024 |
0.3% |
| US TREASURY N/B 2.125% S/A 15MAY2025 |
0.3% |
| US TREASURY N/B 2.25% S/A 31MAR2021 |
0.3% |
| Total |
4% |
Top 10 Holdings
Security name
Holdings Weight |
| MICROSOFT CORP
Holding Weight 0.7%
|
| APPLE INC
Holding Weight 0.6%
|
| AMAZON.COM INC
Holding Weight 0.5%
|
| US TREASURY N/B 2% S/A 15AUG2025
Holding Weight 0.4%
|
| US TREASURY N/B 2.375% S/A 15MAY2027
Holding Weight 0.3%
|
| US TREASURY N/B 2.25% S/A 15AUG2027
Holding Weight 0.3%
|
| US TREASURY N/B 2.25% S/A 30APR2021
Holding Weight 0.3%
|
| US TREASURY N/B 2.25% S/A 15NOV2024
Holding Weight 0.3%
|
| US TREASURY N/B 2.125% S/A 15MAY2025
Holding Weight 0.3%
|
| US TREASURY N/B 2.25% S/A 31MAR2021
Holding Weight 0.3%
|
| Total: 4% |
Portfolio Allocation
- • 2.4 Cash & Others
- • 21.1 Equity
- • 76.5 Bond
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