The objective is to focus investment into the global equity markets, to produce returns that are related to those achieved on the major world stock market indices and to manage the volatility of returns in the short term. The indicative asset allocation of the underlying APIF is 100% equities. It is a high risk fund portfolio.

Latest Fund Expense Ratio: 2.04%

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

Unit Price: HKD 17.19

Fund Size: HKD 149.6M

Global equities posted negative returns over the first quarter as the COVID-19 outbreak in China and its spread to other countries weighed on global economic prospects. The World Health Organization (WHO) declared the outbreak a pandemic. Authorities across the world announced largescale quarantines, social distancing and travel restrictions to curtail the virus’ spread. The US Federal Reserve, European Central Bank, Bank of England, People’s Bank of China, Bank of Japan and a number of other central banks cut interest rates or provided liquidity support through balance sheet expansions or by relaxing bank capital requirements. Governments in major economies have pledged to do “whatever it takes” to provide the necessary relief and rescue measures in their respective countries. Against this global backdrop, all key markets ended lower, with European equities experiencing the most negative performance. From a sector perspective, energy companies came under significant pressure as crude oil prices fell in view of weakening global demand and a fallout in the Organization of the Petroleum Exporting Countries’ meeting in March.