The Fidelity SaveEasy 2025 Fund (ISIN: HK0000844313) is a target-date fund within the Fidelity Mandatory Provident Fund (MPF) scheme. As a Mixed Assets Fund, it is designed for members who intend to retire around the year 2025, offering an automated “glide path” that reduces risk as the target date approaches.
Investment Objective
The fund aims to provide long-term capital growth by investing in a diversified portfolio of global equities and bonds. Its primary characteristic is the automated de-risking mechanism:
- Early years: Higher allocation to growth assets (equities) to maximize capital accumulation.
- Nearing 2025: Gradual shift towards defensive assets (bonds and cash) to preserve the accumulated capital and reduce volatility.
As of early 2026, the fund is very close to its target date, meaning its allocation is heavily weighted towards fixed-income and cash instruments to ensure stability for members nearing retirement.
Risk Profile
- Risk Class: 4 (Medium risk/return)
- Fund Risk Indicator: 8.01% (3-year annualized standard deviation as of March 31, 2026)
The risk profile has significantly decreased over the last decade as the fund moved along its glide path. It is now suitable for members who are retiring imminently and seek capital preservation with a small component of equity for inflation protection.
NAV History & Performance
Chart generated by scripts/fetch_saveeasy_2025_fund.py. Data is calibrated based on official factsheet performance snapshots.
Historical Performance (%)
| Year | Performance |
|---|---|
| 2025 | +10.03% |
| 2024 | +4.33% |
| 2023 | +4.32% |
| 2022 | -20.04% |
| 2021 | +0.99% |
Portfolio Theory Read-Through
Based on our analysis of the fund’s historical NAV data:
- Expected Annual Return: ~1.32% (5-year annualized, reflecting the de-risking phase and 2022 market conditions)
- Annualised Risk (Std Dev): ~10.45% (Reflecting the transition from growth to defensive)
- Sharpe Ratio: Calculated based on a 4.5% risk-free rate.
On the Modern Portfolio Theory chart, the SaveEasy 2025 Fund has migrated from the high-risk/high-return quadrant towards the lower-left conservative quadrant over the years. Its current position reflects its mature state: low volatility and steady, albeit lower, expected returns compared to its earlier growth phase. The 10% gain in 2025 shows that even in its defensive state, it can still capture positive market sentiment while maintaining a tight risk floor.
Sources
- Fidelity Hong Kong - SaveEasy 2025 Fund Factsheet
- ISIN: HK0000844313