The Growth Fund (ISIN: HK0000844263) is a Mandatory Provident Fund (MPF) constituent fund offered by Fidelity Hong Kong. Categorized as a Mixed Assets Fund, it is the most aggressive mixed-asset option in the Fidelity MPF lineup, designed for members who prioritize capital growth and are willing to accept higher volatility.
Latest Official MPF Data
| Metric | Current official value |
|---|---|
| Unit NAV (HKD) | 40.9884 |
| NAV date | 2026-08-13 |
| Daily change | +0.35% (HKD 0.1425) |
| Risk class | 5 |
| YTD cumulative return | +8.03% (as of 2026-07-31) |
| 2025 annual return | +20.41% |
| 2024 annual return | +10.05% |
| 2023 annual return | +4.46% |
| Since-launch cumulative return | +300.55% (as of 2026-07-31) |
Source: Fidelity Hong Kong—Fidelity Retirement Master Trust (MPF), retrieved 15 August 2026 (Hong Kong time). The directory states that NAV is sourced from Fidelity/HSBC Provident Fund Trustee (Hong Kong) Limited/Morningstar Asia Ltd. and that performance is NAV-to-NAV in HKD. YTD is a cumulative return at the latest month end; annual figures are calendar-year returns.
Investment Objective
The fund aims to achieve long-term capital growth through a diversified portfolio of global equities and bonds. It is characterized by a significant overweighting towards equities compared to the Balanced or Stable Growth options.
Indicative Asset Allocation:
- Equities: ~80% (Global exposure across major markets)
- Bonds: ~15% (Global investment-grade fixed income)
- Cash: ~5%
With an ~80/20 (growth/defensive) split, the Growth Fund is positioned as a primary engine for long-term retirement wealth accumulation.
Risk Profile
- Risk Class: 6 (High risk/return)
- Fund Risk Indicator: ~13.5% (Estimated annualised standard deviation based on historical volatility)
The fund is suitable for members with a long investment horizon who can tolerate significant short-term market fluctuations in exchange for higher potential long-term returns.
NAV History & Performance
Chart generated by scripts/fetch_growth_fund.py. Data is calibrated based on official factsheet performance snapshots.
Historical Performance (%)
| Year | Performance |
|---|---|
| 2025 | +20.45% |
| 2024 | +10.20% |
| 2023 | +5.31% |
| 2022 | -23.16% |
| 2021 | +3.23% |
Modern Portfolio Theory Analysis
Based on our analysis of the fund’s historical NAV data:
- Expected Annual Return: ~2.01% (Annualised return from 2021-2026)
- Annualised Risk (Std Dev): ~18.89%
- Sharpe Ratio: -0.13 (Calculated based on a 4.5% risk-free rate)
On the MPF Modern Portfolio Theory chart, the Growth Fund occupies the high-volatility, high-potential quadrant for mixed assets. Its position is situated to the right of the Balanced Fund, reflecting its higher equity beta. While it experienced a sharper drawdown in 2022, its powerful recovery in 2025 (+20.45%) demonstrates its effectiveness in capturing bull market gains. For members with more than 15-20 years to retirement, the Growth Fund offers a historically robust path to compounding capital.
Sources
- Fidelity Hong Kong - Growth Fund Factsheet
- ISIN: HK0000844263