Investment Objective
Match as closely as practicable the performance of the Hang Seng China Enterprises Index by investing directly in an ITCIS (Hang Seng China Enterprises Index ETF) with a similar investment objective. Whilst the investment objective of the Hang Seng China Enterprises Index Tracking Fund and the underlying ITCIS is to track the Hang Seng China Enterprises Index, there can be no assurance that the performance of the Hang Seng China Enterprises Index Tracking Fund and the underlying ITCIS will at any time be identical to the performance of the Hang Seng China Enterprises Index.
Fund Details
Latest Fund Expense Ratio: N/A%
Launch Date(dd/mm/yyyy): 01/07/2019
Unit Price: HKD 8.65
Fund Size: HKD 698.03M
Fund Commentary
Hang Seng China Enterprises Index decreased by 14.09% in the first quarter of 2020, the return of Hang Seng China Enterprises Index Tracking Fund is -14.27%, and that of benchmark Hang Seng China Enterprises Index Net Total Return Index is -14.08%. The tracking difference of the fund in this quarter is -0.19%. The market is volatile due to multiple situations, including coronavirus disease (COVID-19) pandemic, rising concern on global economic recession, crashing of oil prices, and increased risk from asset bubbles. Hong Kong’s unemployment rate rose to 4.2% in the first quarter of 2020, the highest in more than 9 years as the situations continue to weigh on the economy and may persist for the next two quarters. However, the market is given lots of space for rebound, currently the market has priced in most of the pandemic’s negative effect and the economic downturn. With worldwide quantitative easing and lowering of interest rate, the positive effect may be observed after two to three quarters. In terms of sectors, we prefer to overweight in Consumption, Medical Care, and Property Management. We are neutral about the Hong Kong and China market. Hang Seng China Enterprises Index is expected to trade at around 9,000 – 11,000 in the coming quarter.
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 |
| N/A% |
N/A% |
N/A% |
N/A% |
N/A | N/A | N/A | N/A | 3.49 | -14.27 |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since launch
(p.a. %) |
| N/A% |
N/A% |
N/A% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | YTD |
| N/A | N/A | N/A | N/A | 3.49 | -14.27 |
Top 10 Holdings
| Security name |
Holdings Weight |
| China Construction Bank |
10.7% |
| Tencent Holdings |
10.5% |
| Ping An Insurance |
8.9% |
| Industrial and Commercial Bank of China |
7.7% |
| China Mobile |
7.0% |
| Bank of China |
4.6% |
| CNOOC |
2.9% |
| China Merchants Bank |
2.7% |
| China Life Insurance |
2.2% |
| China Resources Land |
2.0% |
| Total |
59.2% |
Top 10 Holdings
Security name
Holdings Weight |
| China Construction Bank
Holding Weight 10.7%
|
| Tencent Holdings
Holding Weight 10.5%
|
| Ping An Insurance
Holding Weight 8.9%
|
| Industrial and Commercial Bank of China
Holding Weight 7.7%
|
| China Mobile
Holding Weight 7.0%
|
| Bank of China
Holding Weight 4.6%
|
| CNOOC
Holding Weight 2.9%
|
| China Merchants Bank
Holding Weight 2.7%
|
| China Life Insurance
Holding Weight 2.2%
|
| China Resources Land
Holding Weight 2.0%
|
| Total: 59.2% |
Portfolio Allocation
- • 45.9 Financials
- • 10.5 Information Technology
- • 9.1 Telecommunications
- • 9.0 Properties & Construction
- • 6.9 Energy
- • 4.3 Consumer Discretionary
- • 3.8 Utilities
- • 3.4 Health Care
- • 2.6 Consumer Staples
- • 1.6 Conglomerates
- • 2.6 Industrials
- • 0.2 Cash & Others
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