Investment Objective
To provide competitive overall rate of returns for members who hold a longer term investment view and want to seek returns through income and capital appreciation. Investments will be made on diversified basis mainly in Debt Securities issued by any government, central bank, supra-nationals, multilateral international agency and corporate issuers in the Asia Pacific region.
Fund Details
Latest Fund Expense Ratio: 1.36%
Launch Date(dd/mm/yyyy): 23/04/2012
Unit Price: HKD 10.836
Fund Size: HKD 1,424.6M
Fund Commentary
Global economic activity is expected to face pressure from the pandemic and containment measures. Within Asia, we believe the Chinese government and other Asian economies will introduce additional monetary easing and fiscal support as counter-cyclical measures, which should provide a positive backdrop for the high-quality Asian fixed income segment. Our base case for Asian credit is a gradual broad stabilization in credit spreads, while sectors such as energy will require close monitoring for credit risk. Overall, we believe the impact on Chinese credits is manageable in the near-term, underpinned by strong government ties. We expect the current market dislocation, combined with global monetary and fiscal stimulus, to trigger compelling long-term buying opportunities.
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% |
1.01% |
N/A% |
1.02% |
-3.18 | 1.39 | 7.46 | -2.76 | 6.44 | N/A |
Fund Performance Information
| Annualised return |
1 year
(p.a. %) |
5 years
(p.a. %) |
Since Launch
(p.a. %) |
| N/A% |
1.01% |
1.02% |
| Calendar year return |
| 2015 | 2016 | 2017 | 2018 | 2019 | YTD |
| -3.18 | 1.39 | 7.46 | -2.76 | 6.44 | N/A |
Top 10 Holdings
| Security name |
Holdings Weight |
| Government of Australia 2.5% 21/05/2030 |
3.81% |
| Government of The USA 2.0% 15/02/2050 |
2.58% |
| Government of Australia 2.75% 21/11/2029 |
2.24% |
| Government of Indonesia 6.625% 15/05/2033 |
2.17% |
| Government of South Korea 5.0% 10/06/2020 |
2.09% |
| Government of Indonesia 8.25% 15/05/2036 |
1.97% |
| Government of South Korea 3.75% 10/06/2022 |
1.95% |
| Government of Malaysia 4.048% 30/09/2021 |
1.84% |
| Government of Malaysia 3.62% 30/11/2021 |
1.51% |
| Government of South Korea 5.5% 10/03/2028 |
1.47% |
| Total |
21.63% |
Top 10 Holdings
Security name
Holdings Weight |
| Government of Australia 2.5% 21/05/2030
Holding Weight 3.81%
|
| Government of The USA 2.0% 15/02/2050
Holding Weight 2.58%
|
| Government of Australia 2.75% 21/11/2029
Holding Weight 2.24%
|
| Government of Indonesia 6.625% 15/05/2033
Holding Weight 2.17%
|
| Government of South Korea 5.0% 10/06/2020
Holding Weight 2.09%
|
| Government of Indonesia 8.25% 15/05/2036
Holding Weight 1.97%
|
| Government of South Korea 3.75% 10/06/2022
Holding Weight 1.95%
|
| Government of Malaysia 4.048% 30/09/2021
Holding Weight 1.84%
|
| Government of Malaysia 3.62% 30/11/2021
Holding Weight 1.51%
|
| Government of South Korea 5.5% 10/03/2028
Holding Weight 1.47%
|
| Total: 21.63% |
Portfolio Allocation
- • 43.1 USD Bonds
- • 12.8 Others
- • 10.2 AUD Bonds
- • 8.2 IDR Bonds
- • 8.1 KRW Bonds
- • 5.5 MYR Bonds
- • 5.4 Cash
- • 3.4 PHP Bonds
- • 3.3 SOD Bonds
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