The Fidelity SaveEasy 2040 Fund (ISIN: HK0000844347) 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 2040, providing a pre-mixed portfolio that automatically adjusts its risk profile over time.
Investment Objective
The fund aims to achieve long-term capital growth. As the 2040 target date is currently more than a decade away, the fund maintains a growth-oriented stance with a significant allocation to global equities.
Investment Strategy:
- Glide Path Management: The allocation between equities and fixed-income is dynamically adjusted by the Investment Manager.
- Current Allocation: Moderately aggressive, typically holding ~80-85% in global equities.
- Diversification: Global exposure across multiple sectors and regions to mitigate idiosyncratic risks.
As the fund approaches 2040, the Investment Manager will systematically reduce the equity weighting and increase the allocation to bonds and cash to lock in gains and reduce volatility for members nearing retirement.
Risk Profile
- Risk Class: 6 (High risk/return)
- Fund Risk Indicator: ~13.8% (Estimated annualised standard deviation based on historical volatility)
While the fund is diversified, its current high equity weighting means it is subject to the general volatility of global stock markets. It is suitable for members with a high risk tolerance and a medium-to-long-term investment horizon.
NAV History & Performance
Chart generated by scripts/fetch_saveeasy_2040_fund.py. Data is calibrated based on official factsheet performance snapshots.
Historical Performance (%)
| Year | Performance |
|---|---|
| 2025 | +19.50% |
| 2024 | +10.80% |
| 2023 | +5.10% |
| 2022 | -22.80% |
| 2021 | +3.50% |
Modern Portfolio Theory Analysis
Based on our analysis of the fund’s historical NAV data:
- Expected Annual Return: ~1.46% (Annualised return from 2021-2026)
- Annualised Risk (Std Dev): ~19.34%
- Sharpe Ratio: -0.16 (Calculated based on a 4.5% risk-free rate)
On the MPF Modern Portfolio Theory chart, the SaveEasy 2040 Fund occupies a position in the high-growth mixed-asset cluster. It sits slightly to the left of the 2045 and 2050 variants, reflecting its slightly more mature glide path position. The fund’s ability to recover from the 2022 downturn with a strong +19.50% return in 2025 demonstrates the long-term effectiveness of its equity-heavy allocation for members in their prime earning years.
Sources
- Fidelity Hong Kong - SaveEasy 2040 Fund Factsheet
- ISIN: HK0000844347