AIA MPF - PRIME VALUE CHOICE
Data as of 2026-06-30
Top-10 holdings are 11.3% of the fund. US Treasury 2034 at 2.1% is the largest single position. The top three together are 5.2%. The portfolio is broadly spread. By sector: sovereign bonds 5.1%, banks 2.6%, corporate bonds 2.1%. By geography: US 5.1%, Hong Kong 2.6%, Global 2.1%.
No single macro theme dominates. The portfolio is positioned to move with broad market direction rather than any specific cycle. In a choppy, liquidity-tightening environment that neutrality is defensive; in a trending market it means keeping pace, not leading.
The manager's independent bets include US Treasury 2034 (2.1%), Dah Sing Bank Hkg 2.200% 01/06/2026 (1.8%), US Treasury 2048 (1.3%) — positions most peers don't hold. These are where the manager's judgment lives or dies.
Balanced with no dominant style; top-10 concentration 11.3%. Highly independent, high-conviction management (active share 100.0%); expect sharp peer deviations. No strong cyclical tilt — stock selection, not macro rotation, will drive returns. Diversified portfolios have manageable volatility — suitable as a foundation; aggressive investors can add thematic satellites.
To minimise short-term capital risk in Hong Kong dollar terms and to enhance returns over the long term through limited exposure to global equities, through a professionally managed portfolio, invested in two or more approved pooled investment funds.
| 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | YTD | |
| Cumulative | +6.57% | +20.69% | +2.31% | +27.35% | +121.27% | +2.97% |
| Annualised | +6.57% | +6.47% | +0.46% | +2.45% | +3.15% | — |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| Return (%) | +11.68% | +2.30% | +4.72% | -15.00% | -1.17% |
Returns are net of fees. Past performance is not indicative of future returns.
| 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | YTD | |
| Return (%) | +2.44% | +11.45% | +13.03% | +14.81% | +42.63% | +0.62% |
| 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | |
| Return (% p.a.) | +2.44% | +3.68% | +2.48% | +1.39% | +1.40% |
| 2021 | 2022 | 2023 | 2024 | 2025 | YTD | |
| Return (%) | -1.13% | -3.65% | +2.91% | +0.60% | +4.38% | N/A |
The fund recorded -0.84% return in June. The main detractors were Hong Kong equities. The FTSE MPF World Government Bond Index (35% HKD Hedged) was mildly down by 0.3% in June. Bond investors moved away from early-year optimism about rate cuts toward debates over whether the Federal Reserve may need to hold rates higher for longer. In June, the 10-year United States Treasury yield hovered around 4.4%. The Federal Reserve kept policy interest rates unchanged at the Federal Open Market Committee meeting. Strong labour data and sticky inflation in the United States reinforced the higher for longer narrative. The FTSE MPF All World Index was down by 0.8% in June. Although Technology sector in the United States experienced bouts of mid-month volatility, Artificial Intelligence-linked and semiconductor companies in Asia continued to do well. The Hang Seng Index went down by 9.1% in June. The Property sector was under heavy profit-taking pressure after months of rallies.
| # | Security name | Holdings Weight |
| 1 | US TREASURY N/B 4.250% 15/11/2034 | 2.08% |
| 2 | DAH SING BANK HKG 2.200% 01/06/2026 | 1.81% |
| 3 | US TREASURY N/B 3.000% 15/02/2048 | 1.33% |
| 4 | GERMANY 2.600% 15/08/2035 REGS | 1.09% |
| 5 | GERMANY 2.600% 15/08/2034 REGS | 1.00% |
| 6 | US TREASURY N/B 0.875% 15/11/2030 | 0.97% |
| 7 | HSBC HOLDINGS PLC | 0.82% |
| 8 | US TREASURY N/B 4.375% 31/01/2032 | 0.75% |
| 9 | ALIBABA GROUP HOLDING LTD | 0.74% |
| 10 | TENCENT HOLDINGS LTD | 0.74% |
| Total | 11.33% |
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.