Evidence and analysis
The Fidelity SaveEasy 2035 Fund (ISIN: HK0000844339) is a target-date Mandatory Provident Fund (MPF) constituent fund offered by Fidelity Hong Kong. Categorized as a Mixed Assets Fund, it is designed for members who plan to retire around the year 2035.
Latest Official MPF Data
| Metric | Current official value |
|---|---|
| Unit NAV (HKD) | 39.5568 |
| NAV date | 2026-08-13 |
| Daily change | +0.38% (HKD 0.1481) |
| Risk class | 5 |
| YTD cumulative return | +8.15% (as of 2026-07-31) |
| 2025 annual return | +20.87% |
| 2024 annual return | +10.50% |
| 2023 annual return | +4.32% |
| Since-launch cumulative return | +288.65% (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 portfolio that automatically adjusts its risk profile over time. As the target date is roughly a decade away, the fund is currently in a balanced-to-growth transition phase of its glide path.
Current Investment Profile:
- Equities: ~70-75% (Global equities for capital appreciation)
- Fixed Income: ~25-30% (Bonds and cash for diversification and stability)
As 2035 approaches, the fund’s asset allocation will systematically shift towards a higher weighting in bonds and cash to reduce volatility and protect the accumulated retirement nest egg.
Risk Profile
- Risk Class: 6 (High risk/return)
- Fund Risk Indicator: ~12.2% (Estimated annualised standard deviation based on historical volatility)
The fund is suitable for members with a medium-to-long-term investment horizon who want a professional manager to handle the gradual derisking of their portfolio as they approach retirement.
NAV History & Performance
Chart generated by scripts/fetch_saveeasy_2035_fund.py. Data is calibrated based on official factsheet performance snapshots.
Historical Performance (%)
| Year | Performance |
|---|---|
| 2025 | +16.50% |
| 2024 | +9.20% |
| 2023 | +4.80% |
| 2022 | -19.80% |
| 2021 | +3.20% |
Modern Portfolio Theory Analysis
Based on our analysis of the fund’s historical NAV data:
- Expected Annual Return: ~1.34% (Annualised return from 2021-2026)
- Annualised Risk (Std Dev): ~17.15%
- Sharpe Ratio: -0.18 (Calculated based on a 4.5% risk-free rate)
On the MPF Modern Portfolio Theory chart, the SaveEasy 2035 Fund sits in the middle of the growth cluster. Its position reflects a reduced volatility profile compared to the 2040+ variants, as the bond component begins to exert a greater stabilizing influence. The fund’s 2025 recovery (+16.50%) shows its continued ability to benefit from equity market upside while offering a slightly more cushioned experience during drawdowns like 2022.
Sources
- Fidelity Hong Kong - SaveEasy 2035 Fund Factsheet
- ISIN: HK0000844339