AIA MPF - Prime Value Choice
Data as of 2026-06-30
Top-10 holdings are 40.4% of the fund. Nvidia at 7.8% is the largest single position. The top three together are 19.7%. This is a concentrated portfolio. High conviction — or high concentration risk, depending on your view. Within the top 10, by sector: semiconductors 15.8%, tech and internet 12.8%, tech hardware 6.8%. Within the top 10, by geography: US 40.4%. 8 of the top 10 holdings also sit in peers' top 10 — high overlap with the category consensus.
The defining macro exposure is the AI hardware cycle. 22.6% of the top-10 rides semiconductors and tech hardware. Continued datacenter capex is the tailwind; a capex slowdown or inventory correction is the risk. This segment is also the most sensitive to funding liquidity — when liquidity tightens, concentrated cyclical bets feel it first. With heavy US exposure in the top 10, the Fed's path and the dollar matter more than local factors. US policy easing would be a tailwind; a hawkish surprise would weigh across the board.
Note the second-tier component names in the mix. They carry thinner margins and lumpier orders than the headline chip stocks — higher beta on the same cycle.
Growth: tech and semiconductors at 40.5% of top-10; concentration 40.4%. Manager runs a disciplined, benchmark-aware portfolio (8/10 top holdings overlap peers). AI capex cycle supports fundamentals, but history warns of valuation compression after capex peaks. Note: near-term liquidity tightening amplifies concentrated-portfolio volatility. High concentration means higher volatility; longer holding periods help smooth cycle swings — best as a satellite, not a single holding.
To provide long-term capital appreciation through the underlying approved pooled investment fund which consists primarily of shares in US companies. This fund is a feeder fund investing entirely in an approved pooled investment fund.
| 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | YTD | |
| Cumulative | +20.55% | +63.73% | +72.41% | +232.75% | +476.43% | +12.03% |
| Annualised | +20.55% | +17.86% | +11.51% | +12.77% | +7.41% | — |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| Return (%) | +12.92% | +21.46% | +22.94% | -17.73% | +27.16% |
Returns are net of fees. Past performance is not indicative of future returns.
| 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | YTD | |
| Return (%) | +10.51% | +30.22% | +47.70% | +99.13% | +307.09% | +7.18% |
| 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | |
| Return (% p.a.) | +10.51% | +9.20% | +8.11% | +7.13% | +5.90% |
| 2021 | 2022 | 2023 | 2024 | 2025 | YTD | |
| Return (%) | +12.01% | -5.41% | +9.63% | +6.90% | +7.53% | N/A |
The fund recorded -0.61% return in June. The main detractor was the Communication Services sector. In June, there was a divergence in performance among the three major equity indices. The Dow Jones Industrial Average was up 2.5% and reached another record closing high. However, the Nasdaq Composite Index and the Standard and Poor's 500 Index registered monthly losses mainly due to the corrections in Technology and Energy sectors. Economic statistics in May showed that both consumer and producer inflation kept accelerating. On the growth front, the purchasing managers' indices compiled by the Institute of Supply Management increased from the previous month's levels. The US equity market outlook remains cautiously constructive, supported by resilient economic growth and solid corporate earnings, despite lingering macro uncertainties. Q1 2026 was an exceptionally strong earnings season, led by AI-driven tech giants, with improving breadth across sectors and results significantly beating expectations.
| # | Security name | Holdings Weight |
| 1 | NVIDIA CORP | 7.84% |
| 2 | APPLE INC | 6.75% |
| 3 | MICROSOFT CORP | 5.10% |
| 4 | ALPHABET INC CLASS A | 4.30% |
| 5 | AMAZON COM INC | 4.04% |
| 6 | BROADCOM INC | 3.26% |
| 7 | MICRON TECHNOLOGY INC | 2.56% |
| 8 | META PLATFORMS INC CLASS A | 2.38% |
| 9 | ADVANCED MICRO DEVICES INC | 2.14% |
| 10 | ALPHABET INC CLASS C | 2.05% |
| Total | 40.42% |
The fund expense ratio shows the total annual cost of running this fund as a percentage of its assets. It is already reflected in the fund price and returns. When comparing similar funds, fees are one of the few factors you can control.