Investment Objective

To minimise capital risk in Hong Kong dollar terms and to achieve a stable, consistent and predictable rate of return. This fund is a feeder fund investing solely in an approved pooled investment fund.

Fund Details

Latest Fund Expense Ratio: 1.59%

Launch Date(dd/mm/yyyy): 01/12/2000

Unit Price: HKD N/A

Fund Size: HKD 9,366.17M

Fund Commentary

The fund recorded 0.01% return in March. During March, the Hong Kong dollar swaps curve continued to stay higher than the US dollar swaps curve. We have continued to monitor political developments in Hong Kong and the US Federal Reserve’s stance to gauge their impact on the yield curve. The HKD appreciated to 7.7510 during the month. We expect rates in Hong Kong to follow the rates trajectory of the US in the long term, but social/political issues present the magnitude and volatility of risk premium to interest rates in Hong Kong.

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