Investment Objective
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.
Fund Details
Latest Fund Expense Ratio: 1.93%
Launch Date(dd/mm/yyyy): 01/12/2000
Unit Price: HKD 180.53
Fund Size: HKD 3,441.00M
Fund Commentary
The fund recorded -5.76% return in March. The COVID-19 outbreak has almost grinded global economy activity to a halt. While global risk assets experienced a steep decline in March, global fixed income recorded positive gains in early March on the back of broad risk-off sentiment but returned some of its gains later on and ended the month slightly negative. We nudged down our risk positioning further to below netural as the “V” shaped recovery outlook is morphing into a “U” shaped recovery.
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 | YTD |
| -4.19% |
0.30% |
1.53% |
3.10% |
-2.21 | 0.54 | 11.15 | -6.35 | 8.94 | N/A |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since launch
(p.a. %) |
| -4.19% |
0.30% |
3.10% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | YTD |
| -2.21 | 0.54 | 11.15 | -6.35 | 8.94 | N/A |
Top 10 Holdings
| Security name |
Holdings Weight |
| DAH SING BANK HKG 1.00% 01/04/2020 |
7.12% |
| OCBC WING HANG BANK LIMITED 0.250% 01/04/2020 |
4.59% |
| US TREASURY N/B 3.00% 15/02/2048 |
1.81% |
| US TREASURY 1.500% 15/02/2030 |
1.58% |
| US TREASURY N/B T 6.500% 15/11/2026 |
1.55% |
| US TREASURY N/B T 2.250% 31/12/2024 |
1.47% |
| WI TREASURY SEC. WIT 2.750% 15/02/2028 |
1.18% |
| US TREASURY N/B T 2.500% 15/05/2024 |
1.10% |
| TENCENT HOLDINGS LTD |
1.05% |
| US TREASURY 3.00% 15/02/2049 |
1.00% |
| Total |
22.45% |
Top 10 Holdings
Security name
Holdings Weight |
| DAH SING BANK HKG 1.00% 01/04/2020
Holding Weight 7.12%
|
| OCBC WING HANG BANK LIMITED 0.250% 01/04/2020
Holding Weight 4.59%
|
| US TREASURY N/B 3.00% 15/02/2048
Holding Weight 1.81%
|
| US TREASURY 1.500% 15/02/2030
Holding Weight 1.58%
|
| US TREASURY N/B T 6.500% 15/11/2026
Holding Weight 1.55%
|
| US TREASURY N/B T 2.250% 31/12/2024
Holding Weight 1.47%
|
| WI TREASURY SEC. WIT 2.750% 15/02/2028
Holding Weight 1.18%
|
| US TREASURY N/B T 2.500% 15/05/2024
Holding Weight 1.10%
|
| TENCENT HOLDINGS LTD
Holding Weight 1.05%
|
| US TREASURY 3.00% 15/02/2049
Holding Weight 1.00%
|
| Total: 22.45% |
Portfolio Allocation
- • 5.63 Europe Equities
- • 9.11 Hong Kong Equities
- • 3.65 Japan Equities
- • 5.62 United States Equities
- • 4.79 Other Equities
- • 4.60 Hong Kong Dollar Bonds
- • 54.94 Other Bonds
- • 11.66 Cash and Others
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