Sun Life Rainbow MPF Scheme
Data as of 2026-06-30
Top-10 holdings are 28.1% of the fund. Invesco Preferred Shares Ucits ETF at 6.0% is the largest single position. The top three together are 14.4%. Concentration is moderate. By sector: sovereign bonds 8.3%, US Equity ETF 8.2%, Global Equity ETF 5.5%. By geography: US 14.8%, Global 5.5%, Mainland China 1.7%.
No single macro theme dominates. The portfolio is positioned to move with broad market direction rather than any specific cycle. In a choppy, liquidity-tightening environment that neutrality is defensive; in a trending market it means keeping pace, not leading.
The manager's independent bets include Invesco Preferred Shares Ucits ETF (6.0%), Invesco MSCI World Universal Screened Ucits ETF (5.5%), US Government Bond 3.875% 30-Apr-2031 (2.9%) — positions most peers don't hold. These are where the manager's judgment lives or dies.
Balanced with no dominant style; top-10 concentration 28.1%. Highly independent, high-conviction management (active share 100.0%); expect sharp peer deviations. No strong cyclical tilt — stock selection, not macro rotation, will drive returns. Diversified portfolios have manageable volatility — suitable as a foundation; aggressive investors can add thematic satellites.
Seeks to provide members with stable income (by way of distribution of dividend to members' account which will be reinvested in the Sun Life MPF Income Fund (which in turn invests in the accumulation class of Invesco Pooled Investment Fund – Global Income Fund) or the Sun Life MPF Conservative Fund depending on the member's age) and capital growth over the medium to long term.
| 3 Months | 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | Year to Date | |
| Cumulative | +4.77% | +3.23% | N/A | N/A | N/A | +6.19% | +2.57% |
| Annualised | — | +3.23% | N/A | N/A | N/A | +4.50% | — |
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| Return (%) | +3.53% | N/A | N/A | N/A | N/A |
Returns are net of fees. Past performance is not indicative of future returns.
| Year to Date | 3 Months | 1 Year | 3 Years | 5 Years | 10 Years | Since Launch | |
| Return (%) | +0.45% | -0.34% | +1.38% | N/A | N/A | N/A | +2.62% |
| 2021 | 2022 | 2023 | 2024 | 2025 | YTD | |
| Return (%) | N/A | N/A | N/A | N/A | +3.53% | N/A |
Equities in general had a strong start to the year but reversed since the US-Iran geopolitical outbreak. Global equities, measured by FTSE MPF All World, fell -2.5% for the quarter. We have been constructive in risk assets to start the year, but scaled back meaningfully since March to protect downside. Capital has been deployed back since early April. During a volatile quarter where investors de-risked with less visibility on interest rate / inflation outlook due to impact of higher energy prices, REITS have offered stability and income.The fund maintained its income distribution for the distribution share class with a running yield of ~3%.
| # | Security name | Holdings Weight |
| 1 | Invesco Preferred Shares UCITS ETF | 6.0% |
| 2 | Invesco MSCI World Universal Screened UCITS ETF | 5.5% |
| 3 | US Government Bond 3.875% 30-Apr-2031 | 2.9% |
| 4 | Invesco MSCI USA Universal Screened UCITS ETF | 2.2% |
| 5 | Welltower Inc | 2.2% |
| 6 | US Government Bond 1.25% 15-Apr-2031 | 2.1% |
| 7 | Equinix Inc | 2.0% |
| 8 | Prologis Inc | 1.9% |
| 9 | China Government Bond 1.43% 25-Jan-2030 | 1.7% |
| 10 | US Government Bond 4.375% 15-May-2036 | 1.6% |
| Total | 28.1% |
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.