Investment Objective

Achieve long-term capital growth through primarily investing in a portfolio of carefully selected shares issued by companies deriving a preponderant part of their income and/or assets from China and listed on the Stock Exchange of Hong Kong, including but not limited to H-shares and red-chips. Up to 30 per cent of the non-cash assets of the investment portfolio indirectly held by the Chinese Equity Fund may include securities issued by companies deriving a preponderant part of their income and/or assets from China that are listed on other stock exchanges. For the purpose of the investment objective of the Chinese Equity Fund, China means the People’s Republic of China, and excludes Hong Kong, Macau and Taiwan.

Fund Details

Latest Fund Expense Ratio: 1.50%

Launch Date(dd/mm/yyyy): 08/10/2009

Unit Price: HKD 14.11

Fund Size: HKD 6,033.82M

Fund Commentary

Chinese equities fell in the first quarter amid a global sell-off on coronavirus disease (COVID-19) worries with the FTSE MPF China Index down 13.48%. Macro risks like US-China trade conflicts, macro-economic slowdown in China that have previously pressured on the market have been fading out in early January for a good start of 2020. However, COVID-19 outbreak has started halving economy activity after Wuhan lockdown before Chinese New Year. Market plunged on the first day of market reopen but recovered quickly as market expected more fiscal and monetary policies from the government to further support for its economy. The fund has outperformed the FTSE MPF China Index in the first quarter of 2020, mainly driven by positive stock selection in Financials and Consumer Services offset by the unfavourable stock selection in Telecommunications and Oil and Gas.

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