Fund Objective

To provide long term capital growth and income.

View on Past Performance

Potential turn in the interest rate cycle and rising global inflation resulted from rising oil and commodity prices. Hong Kong was the best performing market while China was the worst. The utilities sector was the best performer while the consumer discretionary sector was the worst.We took profit on stocks that have outperformed, and increased weighting on quality laggards. Our underweight in China added value, while overweight in Taiwan detracted value. Our overweight in IT sector added value, but underweight in financials and overweight in consumer discretionaries hurt performance.

Future Expectations

Global economic and inflation outlook, and interest rate trend are key to local economic development.

Fund Details