Investment Objective
Achieve long-term capital growth through primarily investing in a portfolio of carefully selected securities listed on the Stock Exchange of Hong Kong (the ‘SEHK’). The portfolio may be comprised of those Hong Kong-listed Chinese equities (including H-shares, red-chips and securities issued by companies deriving a preponderant part of their income and/or assets from China) and other securities listed on the SEHK. A portion of the investment portfolio indirectly held by this Fund may hold securities issued by companies deriving a preponderant part of their income and/or assets from Hong Kong and/or China that are listed on other stock exchanges. For the purpose of the investment objective of the Hong Kong and Chinese Equity Fund, China means the People’s Republic of China, and excludes Hong Kong, Macau and Taiwan.
Fund Details
Latest Fund Expense Ratio: 1.49%
Launch Date(dd/mm/yyyy): 01/12/2000
Unit Price: HKD 21.11
Fund Size: HKD 3,349.35M
Fund Commentary
Chinese equities fell in the first quarter amid a global sell-off on coronavirus disease (COVID-19) worries with the FTSE MPF Hong Kong Index down 15.42%. Macro risks like US-China trade conflicts, macro-economic slowdown in mainland 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. 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 underperformed the FTSE MPF Hong Kong Index in the first quarter of 2020, the positive stock selection in Financials and Consumer Services was offset by the unfavourable stock selection in Telecommunications and Oil and Gas.
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 | Year To Date |
| -15.12% |
0.27% |
1.51% |
3.94% |
-5.57 | 0.16 | 38.62 | -15.35 | 13.07 | -15.59 |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since Launch
(p.a. %) |
| -15.12% |
0.27% |
3.94% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
| -5.57 | 0.16 | 38.62 | -15.35 | 13.07 | -15.59 |
Top 10 Holdings
| Security name |
Holdings Weight |
| Tracker Fund of Hong Kong ETF |
10.8% |
| Tencent Holdings |
8.7% |
| AIA Group |
6.8% |
| China Construction Bank H SHS |
4.0% |
| Meituan Dianping-Class B |
3.6% |
| HSBC Holdings Plc |
3.4% |
| Ping An Insurance (GRP) Co of China ‘H’ |
3.0% |
| Hong Kong Exchanges & Clearing |
2.7% |
| WH Group Ltd |
2.4% |
| ICBC H SHS |
2.3% |
| Total |
47.7% |
Top 10 Holdings
Security name
Holdings Weight |
| Tracker Fund of Hong Kong ETF
Holding Weight 10.8%
|
| Tencent Holdings
Holding Weight 8.7%
|
| AIA Group
Holding Weight 6.8%
|
| China Construction Bank H SHS
Holding Weight 4.0%
|
| Meituan Dianping-Class B
Holding Weight 3.6%
|
| HSBC Holdings Plc
Holding Weight 3.4%
|
| Ping An Insurance (GRP) Co of China ‘H’
Holding Weight 3.0%
|
| Hong Kong Exchanges & Clearing
Holding Weight 2.7%
|
| WH Group Ltd
Holding Weight 2.4%
|
| ICBC H SHS
Holding Weight 2.3%
|
| Total: 47.7% |
Portfolio Allocation
- • 48.8 Financials
- • 12.0 Technology
- • 9.9 Consumer Services
- • 9.7 Consumer Goods
- • 4.7 Industrials
- • 4.1 Health Care
- • 2.5 Oil and Gas
- • 2.4 Cash & Others
- • 2.3 Telecommunications
- • 1.9 Basic Materials
- • 1.8 Utilities
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