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For investors in Hong Kong

Balanced Fund

For over 30 years, this dynamic allocation strategy has delivered our equity and fixed income expertise in a one-stop core solution

ISIN
IE0031118809

NAV
USD 35.68
As of 2024/12/17

1-Day Change
USD -0.11 (-0.31%)
 As of 2024/12/17

Morningstar Rating

As of 2024/11/30

Key investment risks:

  • The Fund's investments in equities are subject to equity market risk due to fluctuation of securities values.
  • The Fund invests in debt securities and asset/ mortgage-backed securities/ commercial papers; and is subject to greater interest rate, credit/ counterparty, volatility, liquidity, downgrading, valuation, credit rating risks.It may be more

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  • volatile.
  • Investments in the Fund involve general investment, RMB currency and conversion, currency, hedging, economic, political, policy, foreign exchange, liquidity, tax, legal, regulatory and securities financing transactions related risks. In extreme market conditions, you may lose your entire investment.
  • The Fund may invest in financial derivatives instruments for investment and efficient portfolio management purposes. This may involve counterparty, liquidity, leverage, volatility, valuation, over-the-counter transaction, credit, currency, index, settlement default and interest risks; and the Fund may suffer total or substantial losses.
  • The Fund's investments are concentrated in US companies/ debt securities and may be more volatile.
  • The Fund may at its discretion pay dividends (i) pay dividends out of the capital of the Fund, and/ or (ii) pay dividends out of gross income while charging all or part of the fees and expenses to the capital of the Fund, resulting in an increase in distributable income available for the payment of dividends by the Fund and therefore, the Fund may effectively pay dividends out of capital. This may result in an immediate reduction of the Fund’s net asset value per share, and it amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment.
  • Investors should not only base on this document alone to make investment decisions and should read the offering documents including the risk factors for further details.

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Overview

INVESTMENT OBJECTIVE

The Fund aims to seek long-term capital growth, consistent with preservation of capital and balanced by current income.

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The Fund invests between 35%-70% of its net asset value in equities, and between 30%-65% of its net asset value in debt securities and loan participations. At least 80% of its net asset value is invested in US companies and US issuers selected mainly for their income potential.

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ABOUT THIS FUND

  • High-conviction large-cap growth equities paired with an active intermediate-term bond strategy
  • Dynamic asset allocation strategy that has the flexibility to defensively position ahead of market volatility by migrating from 35-70% equity depending on conditions
  • Integrated research allows our equity and fixed income analysts to work side by side covering the same global sectors

Portfolio Management

Jeremiah Buckley, CFA
Jeremiah Buckley, CFA

Portfolio Manager

Industry since 1998. Joined Firm in 1998.

Greg Wilensky, CFA
Greg Wilensky, CFA

Head of U.S. Fixed Income | Head of Core Plus

Industry since 1993. Joined Firm in 2020.

Michael Keough
Michael Keough

Portfolio Manager

Industry since 2006. Joined Firm in 2007.

Performance

Cumulative Performance (%)
As of 2024/11/30
B2 USD (Net) Balanced Index USD Moderate Allocation - OE
 
  Cumulative
  1MO 3MO 6MO YTD 1YR 3YR 5YR Since Inception
1998/12/24
B2 USD (Net) 3.59 3.26 8.79 15.12 19.47 8.36 36.72 257.80
Balanced Index 3.94 4.21 10.75 16.69 21.61 17.66 52.53 424.93
USD Moderate Allocation - OE 1.71 1.51 5.84 9.15 13.39 5.55 20.62 163.81
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.
Calendar Year Returns (%)
As of 2024/09/30
B2 USD (Net) Balanced Index USD Moderate Allocation - OE
2023 2022 2021 2020 2019
B2 USD (Net) 12.49 -18.40 14.31 11.48 18.88
Balanced Index 16.62 -15.52 14.32 14.20 21.03
USD Moderate Allocation - OE 10.30 -13.96 7.17 6.75 14.92
Source: Morningstar, Inc., NAV-NAV, gross income reinvested where applicable. Past performance cannot guarantee future results.

Recommended holding period 5 Years

Example Investment: USD 10,000

Scenarios If you exit after 1 year If you exit after 5 years
MinimumThere is no minimum guaranteed return. You could lose some or all of your investment
StressWhat you might get back after costs2,810 USD3,090 USD
Average return each year-71.86%-20.95%
UnfavourableWhat you might get back after costs7,980 USD7,990 USD
Average return each year-20.21%-4.38%
ModerateWhat you might get back after costs10,360 USD13,500 USD
Average return each year3.60%6.18%
FavourableWhat you might get back after costs12,280 USD17,250 USD
Average return each year22.84%11.52%
There is currently insufficient data to provide a useful indication of past performance to investors.
Fee Information
Initial Charge 0.00%
Annual Charge 1.00%
Ongoing Charge
(As of 2023/12/31) 		2.88%
The ongoing charge is calculated using the Packaged Retail Investment Product (PRIIPs) methodology. The PRIIPs methodology differs to the UCITS ongoing charge methodology, as the PRIIPS methodology captures additional recurring charges, including but not limited to: a. Interest paid on borrowing (e.g. bank interest) b. Any fees incurred in relation to stock-lending activity (i.e. the fee paid to the lending agent) c. Any costs associated with holding closed-ended vehicles.
Please refer to the offering documents for more details on the fees and expenses.

Portfolio

Top Holdings (As of 2024/11/30)
% of Fund
NVIDIA Corp 5.45
Microsoft Corp 5.18
United States Treasury Note/Bond, 4.12%, 10/31/29 3.86
Apple Inc 3.66
Amazon.com Inc 2.90
Alphabet Inc 2.46
Mastercard Inc 2.36
Meta Platforms Inc 2.07
Progressive Corp 1.74
UnitedHealth Group Inc 1.72
TOTAL 31.40
Portfolio holdings are subject to change without notice. 

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
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