Important risk disclosure

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HK0000996931
Ping An Hong Kong Dollar Money Market Fund

Cash management
Short duration
Global
HKD Cash
Accumulating

Invest with

HKD Cash

Payout type

Accumulating

Risk rating

About this fund

Description

The Fund seeks to achieve its investment objective by investing primarily in HKD-denominated and settled short-term deposits and high quality money market instruments issued by governments, quasi-governments, international organisations and financial...

Key information

Key fact sheet

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Prospectus

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Factsheet

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Our perspective

Why we think this fund is best-in-class

Product

Investing primarily into high-quality HKD money market securities issued mainly in China and Hong Kong. Leverage the strong relationship between parent company (Ping An Insurance) and domestic Chinese banks to obtain preferential rates on low duration and liquid bank deposits.

People

Run by two highly experienced PMs, Armin Cheung and Vicky Yao, with a combined average industry experience of over 13 years. This duo also manages the highly popular Ping An USD Money Market Fund. Supported by Ping An’s well-resourced and dedicated Treasury team, which has extensive experience in managing the broader Ping An Group’s own money. One of the most renowned asset managers in China.

Performance

Favourable performance since inception in 2024, delivering yields and total returns in line or better than comparable market benchmarks and peers.

Process

In line with capital preservation and prudent liquidity management, invests for an average portfolio maturity of less than 60 days. Has displayed the tendency to invest a relatively higher allocation to high-quality, short-duration fixed income securities in order to enhance yields; regardless, the Fund’s risk management has been superior with no single day of negative returns since inception (as of May 2025).

Cost

Institutional share class with 0% trailer fees to achieve the lowest cost of access.

How it fits in a portfolio

The Fund aims to provide capital preservation and liquidity for investors looking for short-term liquidity management for cash (HKD) that they will need in the very near future, in addition to the potential to earn yield. Note that capital preservation is the utmost objective of the Fund, but is not guaranteed. Given the Fund’s heavy collaboration with Chinese banks, it may also be subject to relatively higher sector-specific risks, although the team’s emphasis on high-quality issuers is solid. Investors are also reminded of the Fund’s relatively shorter track record (having been incepted in April 2024), and the Fund’s relatively higher allocation to short-term fixed income securities thus far.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this accumulating fund, which includes dividends reinvested.

Total returns

Cumulative

Annualised

All Time

6.13%

YTD

0.23%

1 month

0.23%

6 month

1.27%

1 year

2.90%

As of Jan 2026

Distributions

This is an accumulating fund, so dividends are re-invested at the fund level.

Yield

3.40%As of Dec 2025

Risk metrics

Volatility

0.30%As of Jan 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	0.2%	-	-	-	-	-	-	-	-	-	-	-
2025	3.0%	0.3%	0.3%	0.3%	0.3%	0.3%	0.2%	0.1%	0.1%	0.2%	0.2%	0.2%	0.3%
2024	-	-	-	-	0.0%	0.3%	0.3%	0.4%	0.4%	0.4%	0.4%	0.3%	0.4%

Top Exposures

Holdings

Sectors

Cash And Cash Equivalents	42.51%
Deposits With Banks	18.56%
China Ping An Insurance Overseas Hldgs Ltd Mh+0.6% M (2025-04-08 Maturity)	18.55%
Mitsubishi Hc Capital Uk Plc H+0.4% Q (2025-11-28 Maturity)	15.90%
Gaoteng Weinv Mn Mkt-I Hkd A	3.20%
Vigorous Champion Intl Ltd 2.75% S/A (2025-06-02 Maturity)	0.61%
Interest Receivable On Deposits With Bank	0.59%
Interest Receivable On Financial Assets At Fair Value Through Profit Or Los	0.13%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

0.27% p.a.

Fund facts

ISIN

HK0000996931

Fund house

Ping An of China Asset Management (HK)

Fund inception date

10 Apr 2024

Fund class currency

HKD

Fund share class

I HKD Acc

Oldest share class ISIN

HK0000996931

Oldest share inception date

10 Apr 2024

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

Opinions Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus HK Limited (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Endowus HK Limited, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.

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Product Risk Rating Please note that any product risk rating (the “PRR”) provided by us is an internal rating assigned based on our product risk assessment model, and is for your reference only. The PRR is subject to change from time to time. The PRR does not take into account your individual circumstances, objectives or needs and should not be regarded as advice or recommendation to purchase, hold or sell any fund or make any other investment decisions. Accordingly, you should not solely rely on the PRR in making your investment decision in the relevant Fund.

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HK0000996931Ping An Hong Kong Dollar Money Market Fund

HK0000996931
Ping An Hong Kong Dollar Money Market Fund