Investment Objective
The constituent fund aims to achieve long term capital growth in Hong Kong dollar terms through a portfolio consisting primarily of securities of companies based or operating principally in the People's Republic of China, Hong Kong, Macau or Taiwan ("Greater China Region") and the majority of these companies are listed on a stock exchange in Hong Kong or Taiwan.
Fund Details
Latest Fund Expense Ratio: 1.48%
Launch Date(dd/mm/yyyy): 13/08/2012
Unit Price: HKD 17.44
Fund Size: HKD 869.57M
Fund Commentary
China equities endured a highly volatile quar ter, outperforming global peers, amid fears triggered by the dual onslaught of the COVID-19 pandemic and the oil price. On the heels of a blockbuster year in 2019, investor sentiment was riding high in the first month of the year, buoyed by the optimism around the Phase I trade deal, but soon fell prey to concerns around the outbreak of COVID-19 later in January and the negative economic impact from the subsequent lockdowns and containment measures taken by the Chinese government, as well as various travel restrictions imposed by other countries. In March, the COVID-19 pandemic continued taking its toll on global economic activity as well as financial stability, which was further complicated by the slump in oil price precipitated by the breakdown in OPEC+ negotiations. Rates fell further and the U.S. dollar rose but with heightened volatility. While the situation of the novel coronavirus outbreak remains fluid and short term disruption on both domestic consumption and global supply chain unavoidable, we take comfort in Chinese government’s strong outbreak containment measures as well as proactive countercyclical economic policies to mitigate the negative impact on consumption and employment.
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 | Year To Date |
-0.40% |
4.64% |
N/A% |
7.56% |
-6.54 | 1.61 | 47.26 | -19.32 | 31.94 | N/A |
Fund Performance Information
Annualised return |
1 year (p.a. %) |
5 years (p.a. %) |
Since Launch (p.a. %) |
-0.40% |
4.64% |
7.56% |
Calendar year return |
2015 | 2016 | 2017 | 2018 | 2019 | Year To Date |
-6.54 | 1.61 | 47.26 | -19.32 | 31.94 | N/A |
Top 10 Holdings
Security name |
Holdings Weight |
TENCENT HOLDINGS LTD |
9.63% |
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD |
8.18% |
AIA GROUP LTD |
5.34% |
PING AN INSURANCE GRP CO OF CHINA LTD (H) |
4.01% |
CHINA CONSTRUCTION BANK (H) |
3.31% |
ALIBABA GROUP HOLDING LTD |
3.13% |
MEITUAN DIANPING |
2.73% |
CHINA MERCHANTS BANK CO LTD (H) |
2.62% |
SUN HUNG KAI PROPERTIES LTD |
2.55% |
WUXI BIOLOGICS (CAYMAN) INC |
2.29% |
Total |
43.79% |
Top 10 Holdings
Security name Holdings Weight |
TENCENT HOLDINGS LTD
Holding Weight 9.63%
|
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD
Holding Weight 8.18%
|
AIA GROUP LTD
Holding Weight 5.34%
|
PING AN INSURANCE GRP CO OF CHINA LTD (H)
Holding Weight 4.01%
|
CHINA CONSTRUCTION BANK (H)
Holding Weight 3.31%
|
ALIBABA GROUP HOLDING LTD
Holding Weight 3.13%
|
MEITUAN DIANPING
Holding Weight 2.73%
|
CHINA MERCHANTS BANK CO LTD (H)
Holding Weight 2.62%
|
SUN HUNG KAI PROPERTIES LTD
Holding Weight 2.55%
|
WUXI BIOLOGICS (CAYMAN) INC
Holding Weight 2.29%
|
Total: 43.79% |
Portfolio Allocation
- • 62.91 China Equities
- • 19.92 Taiwan Equities
- • 14.51 HK Equities
- • 0.03 Other Equities
- • 2.62 Cash & Others
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