Morningstar® Fund Report™|10/08/2025 |
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Performance History | 31/07/2025 |
Growth of 1,000(USD) | |
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• | Fund | 9.10 | -12.18 | 7.72 | 7.43 | 5.96 |
• | +/-Cat | 1.79 | 1.97 | -2.61 | -0.03 | -0.81 |
• | +/-Idx | 1.56 | 1.27 | -6.09 | -1.65 | -1.70 |
Category: USD Moderate Allocation | ||||||
Index: Morningstar EAA USD Mod Target Allocation NR USD | ||||||
Trailing Returns | 07/08/2025 | |||||
Fund | +/-Idx | |||||
YTD | 6.37 | -2.24 | ||||
3 Years | 19.39 | -10.43 | ||||
5 Years | 27.70 | -8.31 | ||||
10 Years | 53.96 | -25.49 | ||||
12 Month Yield | 4.74 | |||||
Dividend Paying Frequency | Monthly | |||||
Key Stats | ||
Morningstar Category
USD Moderate Allocation
Morningstar Rating™

ISIN
HK0000084514
NAV 07/08/2025
USD 10.2700
Day Change
0.20%
Total Net Assets (mil)
31/07/2025
USD 3598.32
USD 3598.32
Front Load Fee
3.00%
Deferred Load Fee
-
Manager Name
Gerhardt (Gary) Herbert
Eric Bernbaum
Leon Goldfeld
Michael Schoenhaut
Inception Date
09/09/2011
Benchmark | ||||
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Investment strategy |
To maximize the income return primarily through investing in a diversified portfolio of income producing equities, bonds and other securities. In addition, the Fund aims to provide medium to long term moderate capital growth. The Manager will seek to achieve these objectives by active asset allocation to, and within, different asset classes and geographies. The asset classes include but are not limited to investment grade bonds, below investment grade bonds, high yield bonds, emerging market bonds, convertible bonds, real estate investment trusts (“REITs”) and equities. |
Portfolio Profile | 30/06/2025 |
Morningstar Style Box®_Morningstar: | |||||
Equity Style | |||||
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Morningstar Style Box®_Morningstar: | |||||
Fixed Income Style | |||||
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Top 5 Holdings | Sector | % |
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1.24 |
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1.05 |
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1.00 |
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0.82 |
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0.49 |
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For the market value of financial derivatives, Morningstar's calculation method includes the nominal value of derivative agreements to reflect position-holding (position) for your reference. If the position-holding ranking calculated by Morningstar shall be different from that published by the fund company, the ranking in the monthly report (click here) by the fund company shall prevail. |
Annual Returns | 31/07/2025 | |||||||
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
Total Return | -5.03 | 14.81 | 4.73 | 9.10 | -12.18 | 7.72 | 7.43 | 5.96 |
+/- Category | 1.57 | -0.07 | -2.77 | 1.79 | 1.97 | -2.61 | -0.03 | -0.81 |
+/- Index | -0.75 | -1.29 | -5.53 | 1.56 | 1.27 | -6.09 | -1.65 | -1.70 |
% Rank (Rel to Cat) | 30 | 50 | 72 | 30 | 29 | 79 | 53 | 79 |
Trailing Returns | 07/08/2025 | |||
Total Return | +/- Category | +/- Index | ||
1 Day | 0.20 | 0.15 | 0.00 | |
1 Week | 0.39 | -0.76 | -0.87 | |
1 Month | 1.06 | -0.11 | -0.45 | |
3 Months | 5.31 | -0.59 | -0.86 | |
6 Months | 4.21 | -0.75 | -2.10 | |
YTD | 6.37 | -1.27 | -2.24 | |
1 Year | 10.41 | -1.04 | -2.36 | |
3 Years | 19.39 | -3.63 | -10.43 | |
5 Years | 27.70 | -0.62 | -8.31 | |
10 Years | 53.96 | -2.34 | -25.49 | |
Category:USD Moderate Allocation | ||||
Index:Morningstar EAA USD Mod Target Allocation NR USD |
Quarterly Returns | 31/07/2025 | |||
Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | |
2025 | 0.62 | 4.61 | - | - |
2024 | 2.46 | 1.36 | 5.54 | -1.99 |
2023 | 2.54 | 0.14 | -2.42 | 7.50 |
2022 | -4.03 | -8.81 | -4.74 | 5.33 |
Dividend | 07/08/2025 |
12 Month Yield | 4.74 |
2025 | 0.41 |
2024 | 0.70 |
2023 | 0.70 |
2022 | 0.52 |
Morningstar Rating™ | 31/07/2025 |
3-Year |
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5-Year |
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10-Year |
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Overall |
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Volatility Measurements | 31/07/2025 | |||||||||||||||||||||||||
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Investment Style Details | 30/06/2025 | |||||||||||||||||||||||||||||||||||||||
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Category: USD Moderate Allocation | ||||||||||||||||||||||||||||||||||||||||
Fixed Income Style | 30/06/2025 | ||||||||||||||||||||||||||||||||
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Category: USD Moderate Allocation |
AssetAllocation | 30/06/2025 |
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World Regions | 30/06/2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||
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Category: USD Moderate Allocation |
Stock Sector Weightings | 30/06/2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Category: USD Moderate Allocation |
Top 10 Holdings | 30/06/2025 |
Portfolio | |
Total Number of Equity Holdings | 569 |
Total Number of Bond Holdings | 1397 |
Assets in Top 10 Holdings % | 16.03 |
Product Name | Sector | Country/Region | % of Assets | ||
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United States | 1.24 | ||
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United States | 1.05 | ||
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Taiwan | 1.00 | ||
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United States | 0.82 | ||
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United States | 0.49 | ||
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United States | 0.45 | ||
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United States | 0.44 | ||
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United States | 0.43 | ||
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United States | 0.43 | ||
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United States | 0.42 | ||
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Category: USD Moderate Allocation | |||||
For the market value of financial derivatives, Morningstar's calculation method includes the nominal value of derivative agreements to reflect position-holding (position) for your reference. If the position-holding ranking calculated by Morningstar shall be different from that published by the fund company, the ranking in the monthly report (click here) by the fund company shall prevail. |
Management Team | |||||||||||||||||||||||||||||
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Biography | |||||||||||||||||||||||||||||
Mr. Herbert has been an employee of JPMIM and the Head of GTAA and Diversified Strategies in the U.S for MAS since 2020Gary is a portfolio manager and head of global credit. Gary joined Brandywine Global in March 2010, bringing with him over 20 years of high yield experience. Previously, Gary was a Managing Director, Portfolio Manager with Guggenheim Partners, LLC (2009-2010); a Managing Director, Portfolio Manager with Dreman Value Management, LLC (2007-2009); and an Executive Director, Portfolio Manager (1999-2007) and Associate (1994-1998) with Morgan Stanley Investment Management. | |||||||||||||||||||||||||||||
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Biography | |||||||||||||||||||||||||||||
Eric J. Bernbaum, Executive Director, CFA, is a portfolio manager within JPMorgan’s Multi-Asset Solutions Group and has responsibility for portfolio construction and the implementation of tactical asset allocations across JPMorgan’s Multi-Asset Solutions Group. Mr. Bernbaum joined JPMorgan in 2008. Eric holds a B.S. in Applied Economics and Management with a concentration in Business and Finance from Cornell University. | |||||||||||||||||||||||||||||
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Biography | |||||||||||||||||||||||||||||
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Biography | |||||||||||||||||||||||||||||
Michael Schoenhaut, managing director, is a portfolio manager on JPMAM's Multi-Asset Solutions team, based in New York. Michael is responsible for a global suite of multi-asset income strategies and is lead portfolio manager across the funds. He focuses on asset allocation, portfolio construction, manager selection and risk management. He was previously a member of the SmartRetirement portfolio management team which was awarded the 2014 Morningstar U.S. Allocation Fund Manager of the Year for their efforts. An employee since 1997, Michael has held other positions within Multi-Asset Solutions, including portfolio manager for GTAA and balanced strategies and head of quantitative portfolio management. Michael earned a Bachelor of Science in Operations Research and Industrial Engineering from Cornell University and is a CFA charter holder. |
Fees and Expenses | ||||||||||||
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