Investment Objective
To provide investors with long-term capital growth through the underlying approved pooled investment fund which consists primarily of securities of companies based or operating principally in Japan. This fund is a feeder fund investing solely in an approved pooled investment fund.
Fund Details
Latest Fund Expense Ratio: 1.92%%
Launch Date(dd/mm/yyyy): 01/01/2002
Unit Price: HKD 152.32
Fund Size: HKD 604.66M
Fund Commentary
The fund recorded -8.8% return in March. In March, before the widespread impact from the coronavirus, the Japanese economy was in a weakened state due to lingering effects from the consumption tax hike. It is likely that a 6% (Quarter on Quarter, annualized) decline in fourth quarter economic activity is followed by an even sharper contraction in the first half of 2020. For the fund performance, the detraction in sector allocation, especially the overweight in financials, offset the contribution from stock selection. The outlook for the market has changed significantly because of the impact the coronavirus has had on both the supply and demand side of the economy. Sectors including tourism, manufacturing and technology will face growth challenges this year.
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 |
| -7.01% |
0.27% |
3.08% |
2.33% |
9.55 | -2.73 | 31.00 | -18.49 | 19.48 | N/A |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since launch
(p.a. %) |
| -7.01% |
0.27% |
2.33% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | YTD |
| 9.55 | -2.73 | 31.00 | -18.49 | 19.48 | N/A |
Top 10 Holdings
| Security name |
Holdings Weight |
| TOYOTA MOTOR CORP |
5.94% |
| SONY CORP |
4.17% |
| NIPPON TELEGRAPH & TELEPHONE |
4.13% |
| KEYENCE CORP |
3.94% |
| SHIN-ETSU CHEMICAL |
3.80% |
| KAO CORP |
3.47% |
| MITSUBISHI CORP |
3.34% |
| TOKIO MARINE HOLDINGS INC |
3.12% |
| MURATA MANUFACTURING CO LTD |
2.95% |
| MITSUI FUDOSAN |
2.82% |
| Total |
37.68% |
Top 10 Holdings
Security name
Holdings Weight |
| TOYOTA MOTOR CORP
Holding Weight 5.94%
|
| SONY CORP
Holding Weight 4.17%
|
| NIPPON TELEGRAPH & TELEPHONE
Holding Weight 4.13%
|
| KEYENCE CORP
Holding Weight 3.94%
|
| SHIN-ETSU CHEMICAL
Holding Weight 3.80%
|
| KAO CORP
Holding Weight 3.47%
|
| MITSUBISHI CORP
Holding Weight 3.34%
|
| TOKIO MARINE HOLDINGS INC
Holding Weight 3.12%
|
| MURATA MANUFACTURING CO LTD
Holding Weight 2.95%
|
| MITSUI FUDOSAN
Holding Weight 2.82%
|
| Total: 37.68% |
Portfolio Allocation
- • 5.24 Basic Materials
- • 20.40 Consumer Goods
- • 7.37 Consumer Services
- • 16.98 Financials
- • 10.96 Health Care
- • 21.84 Industrials
- • 1.92 Oil and Gas
- • 7.84 Technology
- • 5.91 Telecommunications
- • 1.54 Cash and Others
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