Investment Objective

To provide long-term capital appreciation through the underlying approved pooled investment funds and/or approved ITCISs which invest primarily in securities of companies either listed, based or operating principally in Hong Kong. Implementation of the investment policy is considered to be of high inherent risk.

Fund Details

Latest Fund Expense Ratio: 1.91%

Launch Date(dd/mm/yyyy): 01/01/2002

Unit Price: HKD 293.96

Fund Size: HKD 5,656.01M

Fund Commentary

The fund recorded -9.83% return in March. Although Hong Kong reported much fewer domestic infected cases and activities had started to resume since early March, immense pressure on domestic economy is expected to remain in near term. For the fund performance, detraction from stock selection in consumer names was more than offset by the contribution from stock selection in real estate, IT and utilities. For Hong Kong domestic names, earnings visibility would remain low and volatile in near term although for the Hong Kong market as a whole, current valuation has reached the trough levels as in previous crisis in 1998 which could be reference from long term perspective.

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