Investment Objective
The BOC-Prudential Bond Fund is a bond fund which seeks to provide a stable income stream and long-term capital appreciation by investing primarily in the global bond sub-fund of the Umbrella Unit Trust9 . Under normal circumstances, the sub-fund will invest in a portfolio of investment grade (rated Baa2 or above by Moody's or other approved credit rating agency as listed in MPF Guidelines III.1) bonds. Overall, bonds will be denominated in various major world currencies. Major world currencies include but are not limited to Hong Kong dollar, U.S. dollar, British Sterling, Euro and Japanese Yen. The sub-fund may also invest in ITCIS† and Other Authorized Unit Trusts or Authorized Mutual Funds13 (up to 10% of the total NAV of the sub-fund). Where appropriate, cash, time deposits or money market securities may be considered. The risk level of the BOC-Prudential Bond Fund is generally regarded as medium2 .
Fund Details
Latest Fund Expense Ratio: 1.53%
Launch Date(dd/mm/yyyy): 15/04/2003
Unit Price: HKD 13.8538
Fund Size: HKD 2,543.93M
Fund Commentary
The Fund recorded a modest gain over the quarter. Led by US Treasury, bond yields in major markets fell to record lows. However, rally in bond prices was offset by adverse currency effect and widened credit spreads. Going forward, amidst uncertain growth and policy outlook globally, the Fund would maintain close-to-neutral stance in both rate and currency market.
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 |
| 1.90% |
0.83% |
0.78% |
1.94% |
-2.50 | 0.08 | 3.76 | -1.46 | 2.84 | N/A |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since Launch
(p.a. %) |
| 1.90% |
0.83% |
1.94% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
| -2.50 | 0.08 | 3.76 | -1.46 | 2.84 | N/A |
Top 10 Holdings
| Security name |
Holdings Weight |
| US TREASURY N/B 1.5% S/A 15AUG2022 |
2.5% |
| JAPAN GOVT 20-YR 0.4% S/A 20MAR2036#156 |
2.5% |
| US TREASURY N/B 1.5% S/A 31OCT2024 |
2.4% |
| US TREASURY N/B 1.5% S/A 31AUG2021 |
2.1% |
| JAPAN GOVT 30-YR 0.4% S/A 20JUN2049#63 |
1.8% |
| US TREASURY N/B 1.375% S/A 31AUG2023 |
1.7% |
| BTPS 1.75% S/A 01JUL2024 |
1.7% |
| BANK OF MONTREAL 3.1% S/A 13APR2021 |
1.6% |
| CAN IMPERIAL BK 0.295% S/A 18OCT2024 |
1.5% |
| BTPS 3.5% S/A 01MAR2030 |
1.4% |
| Total |
19.2% |
Top 10 Holdings
Security name
Holdings Weight |
| US TREASURY N/B 1.5% S/A 15AUG2022
Holding Weight 2.5%
|
| JAPAN GOVT 20-YR 0.4% S/A 20MAR2036#156
Holding Weight 2.5%
|
| US TREASURY N/B 1.5% S/A 31OCT2024
Holding Weight 2.4%
|
| US TREASURY N/B 1.5% S/A 31AUG2021
Holding Weight 2.1%
|
| JAPAN GOVT 30-YR 0.4% S/A 20JUN2049#63
Holding Weight 1.8%
|
| US TREASURY N/B 1.375% S/A 31AUG2023
Holding Weight 1.7%
|
| BTPS 1.75% S/A 01JUL2024
Holding Weight 1.7%
|
| BANK OF MONTREAL 3.1% S/A 13APR2021
Holding Weight 1.6%
|
| CAN IMPERIAL BK 0.295% S/A 18OCT2024
Holding Weight 1.5%
|
| BTPS 3.5% S/A 01MAR2030
Holding Weight 1.4%
|
| Total: 19.2% |
Portfolio Allocation
- • 1.1 Property
- • 0.6 Communication Services
- • 0.4 Information Technology
- • 62.3 Government
- • 20.4 Financial Services
- • 4.7 Industrials
- • 3.5 Consumption Related
- • 2.8 Utilities
- • 2.4 Energy Related
- • 1.8 Cash & Others
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