Investment Objective
To provide long term capital growth. Invests on a diversified basis mainly in shares of companies in health care and related industries, covering mainly in pharmaceutical, healthcare equipment & services, food & drug retails, managed care business and biotechnology sectors
Fund Details
Latest Fund Expense Ratio: 1.92%
Launch Date(dd/mm/yyyy): 02/04/2008
Unit Price: HKD 20.457
Fund Size: HKD 23,712.9M
Fund Commentary
The healthcare sector declined during the quarter but was the best-performing sector overall as it offered relative protection during the current downturn.Global markets were initially unaffected by concerns around the COVID-19 outbreak as it was believed the spread would be largely contained to China and that the potential negative effects would be temporary. However, toward the end of February and throughout March, the outbreak spread to other countries, with many global regions experiencing a dramatic increase in new cases, including Western Europe, the US, South Korea and Japan. This led to a sharp sell-off in global equity markets as investors shifted to “safe haven” assets, as evidenced by the significant decline in interest rates.The decline in the global healthcare sector was expected in this type of environment. All healthcare sub-sectors posted negative returns during the period, although healthcare technology and biotechnology companies held up relatively well.
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% |
0.47% |
7.50% |
6.15% |
-1.78 | -3.25 | 5.49 | -2.97 | 9.42 | N/A |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since Launch
(p.a. %) |
| N/A% |
0.47% |
6.15% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | YTD |
| -1.78 | -3.25 | 5.49 | -2.97 | 9.42 | N/A |
Top 10 Holdings
| Security name |
Holdings Weight |
| Merck & Co., Inc |
7.28% |
| Novartis AG ADRJohnson & Johnson |
7.21% |
| Eli Lilly and Co. |
7.20% |
| Roche Holding AG |
6.86% |
| Gilead Sciences, Inc. |
5.74% |
| Abbott Laboratories |
5.46% |
| UnitedHealth Group Inc |
4.77% |
| Alexion Pharmaceuticals, Inc |
4.62% |
| Medtronic PLC |
3.37% |
| Total |
52.51% |
Top 10 Holdings
Security name
Holdings Weight |
| Merck & Co., Inc
Holding Weight 7.28%
|
| Novartis AG ADRJohnson & Johnson
Holding Weight 7.21%
|
| Eli Lilly and Co.
Holding Weight 7.20%
|
| Roche Holding AG
Holding Weight 6.86%
|
| Gilead Sciences, Inc.
Holding Weight 5.74%
|
| Abbott Laboratories
Holding Weight 5.46%
|
| UnitedHealth Group Inc
Holding Weight 4.77%
|
| Alexion Pharmaceuticals, Inc
Holding Weight 4.62%
|
| Medtronic PLC
Holding Weight 3.37%
|
| Total: 52.51% |
Portfolio Allocation
- • 50.6 Pharmaceuticals
- • 18.1 Biotechnology
- • 9.1 Health Care Providers
- • 8.3 Medical Equipment
- • 7.4 Cash
- • 3.8 Medical Supplies
- • 1.9 Drug Retailers
- • 0.7 Electronic Equipment
- • 0.1 Others
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