Investment Objective

To provide medium to long term capital growth. Invests in shares of companies covering different sectors of the Asia Pacific markets, excluding Japan and which are listed on any stock exchange

Fund Details

Latest Fund Expense Ratio: 1.86%

Launch Date(dd/mm/yyyy): 01/12/2000

Unit Price: HKD 20.336

Fund Size: HKD 7,083.4M

Fund Commentary

Market sentiment deteriorated in March, globally, after global supply chains came under further pressure, more countries went into lockdown and demand for goods and services came to a halt. Key policymaker decision-making became focused around large monetary and fiscal emergency response packages to ensure credit stresses were alleviated from certain pockets of the market and corporates and populations had the financial support they needed. The global health crisis is likely to encourage a reassessment of economic and corporate risks including business models heavily invested towards and reliant on Chinese supply. Initial complacency of a rapid V-shaped global recovery has been somewhat toned down, global growth revised lower whilst central banks globally have provided the market with a significant policy response that involves easier financial and monetary conditions, as well as fiscal stimulus. We see a stabilisation and muted recovery into the latter part of 2020, although the situation is very fluid. Despite the seriousness of the epidemic, going forward, we believe that COVID-19 represents a short-term disruption (as opposed to a long-term, larger-scale systemic crisis) much like other serious outbreaks in the past. While we believe the effects of the virus will be short-term, it is our opinion that the economic slowdown set off by COVID-19 puts a lot more pressure on global central banks and the US Federal Reserve Board to cut interest rates further, and for governments to offer a second wave of fiscal stimulus.

The materials provided are for information only and do not constitute as an offer. For investment advice, please consult professional advisors. The information contained in this website has been compiled with considerable care to ensure its accuracy at the date of publication. However, no representation or warranty, express or implied, is made to its accuracy or completeness. MPF.HK shall not be responsible for any consequential effect, nor be liable for any direct, consequential, incidental, indirect loss or damage, howsoever caused, arising from the use of, inability to use or reliance upon any information or materials provided on this website, whether or not such loss or damage is caused by MPF.HK. Links to third party sites are provided for your information only. The content and software of these sites have been issued by third parties. As such, MPF.HK cannot be responsible for the accuracy of information contained in these sites, nor be held liable for any loss or damage arising from or related to their use.