Haitong MPF Retirement Fund
Data as of 2025-12-31
The Haitong Asia Pacific (excluding HK) Fund will mainly invest in securities of approved stock exchange of Asia Pacific outside Hong Kong. The fund will invest mainly in listed equities and listed equity derivatives although it may from time to time invest in money market and/or other fixed income instruments. The fund will invest primarily in Australia, Taiwan, Singapore, Korea, Malaysia, Thailand, Indonesia, the Philippines and the People’s Republic of China, although it may also invest in Japan and countries in the Indian Sub-continent and other Asian markets which become open to foreign investors in the future.
| 3 months | 1 year | 3 Years | 5 years | 10 years | Since Launch | |
| Cumulative | N/A | +29.66% | — | N/A | N/A | N/A |
| Annualised | — | +29.66% | +14.71% | +3.30% | +3.35% | +3.66% |
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
| Return (%) | +29.66% | +13.26% | +2.77% | -22.73% | +0.86% | +16.45% |
Returns are net of fees. Past performance is not indicative of future returns.
In the second half of 2025, the MSCI Asia Pacific Index surged by 11.95%, primarily driven by heightened expectations of Federal Reserve interest rate cuts, a weakening U.S. dollar index, strengthened regional economic resilience, and sustained capital inflows into Asian markets. Hong Kong and South Korean stock markets delivered particularly strong performances, bolstered by upward revisions to earnings forecasts for AI-driven technology sectors and net southbound capital inflows. In local currency terms, South Korea's KOSPI Index (+37.19%) led gains, followed by Taiwan's TWSE Index (+30.14%), Japan's TOPIX Index (+19.49%), China's CSI 300 Index (+17.63%), Singapore's Straits Times Index (+17.20%), Thailand's SET Index (+15.61%), Hong Kong's Hang Seng Index (+6.47%), India's SENSEX Index (+1.93%), and Australia's S&P/ASX 100 Index (+0.85%). In 2H25, Chinese and Hong Kong stock markets diverged, with major A-share indices surging significantly while major Hong Kong indices rose moderately. Core drivers included global liquidity easing, domestic policy support, industry trend catalysts, and capital inflows. Market highlights centered on the structural bull market in A-shares, the rebound in Hong Kong IPOs, and sustained southbound capital inflows. Industries with clear trends—such as AI computing infrastructure, new energy, and semiconductors—became key market themes. In 2H25, Hong Kong IPO fundraising reached HKD 176.931 billion, regaining the top spot globally. The USD depreciated against the RMB throughout 2H25, with the RMB/USD rate falling from 7.16 on June 30 to 7.00 on December 31. In December, the Bank of Japan unanimously raised its policy rate by 25 basis points to 0.75%, the highest level in three decades. Most BOJ observers anticipate the next rate hike around mid-year, though some suggest it may occur earlier due to yen weakness. Driven by three factors— widening monetary policy divergence between the U.S. and Japan, fiscal sustainability concerns dampening the yen's safe-haven appeal, and limited unwinding of global carry trades—the USD/JPY exchange rate rose from 143.81 on June 30 to 156.87 on December 31. Australia's final seasonally adjusted S&P Manufacturing PMI for December fell to 51.6 from November's 52.2, remaining in expansionary territory for the 14th consecutive month. This indicates manufacturing activity continues to grow moderately, albeit at a slower pace. The Reserve Bank of Australia unanimously voted in December to maintain the cash rate at 3.6%, aligning with market expectations. With signs of inflation resurgence in H2 2025, market expectations for further rate cuts have largely faded. Iron ore prices in H2 2025 exhibited a range-bound fluctuation pattern—initially trending upward amid volatility before retreating from highs—driven by the interplay of abundant supply, resilient demand, and macroeconomic sentiment. The core tension centered on the tug-of-war between expectations of global oversupply and domestic plate demand support.
| # | Security name | Holdings Weight |
| 1 | Taiwan Semiconductor Manufacturing Co Ltd | 8.63% |
| 2 | Singapore Telecommunications Ltd | 3.27% |
| 3 | SUMITOMO ELECTRIC INDUSTRIES | 3.24% |
| 4 | Singapore Technologies Engineering Ltd | 2.76% |
| 5 | FUJITSU LTD | 2.74% |
| 6 | Luxshare Precision Industry Co Ltd | 2.54% |
| 7 | DBS GROUP HOLDINGS LTD | 2.49% |
| 8 | KAJIMA CORP | 2.48% |
| 9 | Victory Giant Technology Huizhou Co Ltd | 2.29% |
| 10 | IsuPetasys Co Ltd | 2.21% |
| Total | 32.65% |
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.