Investment Objective

The investment objective of the Haitong Core Accumulation Fund is to provide capital growth to Members by investing in a globally diversified manner.

Fund Details

Latest Fund Expense Ratio: 0.94%

Launch Date(dd/mm/yyyy): 01/04/2017

Unit Price: HKD 11.03

Fund Size: HKD 15.42M

Fund Commentary

Global equity markets tumbled in the first quarter of 2020. Risk-off sentiment was triggered under the outbreak of COVID-19, which led the markets to fall sharply towards the end of March. In the U.S., all of the main indexes recorded significant loss in the first quarter of 2020, with the S&P 500, the Dow, and the Nasdaq down by 20.00%, 23.20% and 14.18%, respectively.Global bond markets turned volatile in the first quarter of 2020. The core government yields tumbled in the quarter while the periphery countries yield surged under the risk-off market sentiment. The 10-year U.S. Treasury yield plunged by 124.8 bps to 0.670% in the quarter, while the 10-year German Government Bond yield decreased 28.5bps to -0.471% during the period. On the policy front, the Federal Reserve cut interest rate to 0-0.25% range in March and started quantitative easing. In Europe, the European Central Bank also launched large scale of easing plan.

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