The Fidelity SaveEasy 2045 Fund (ISIN: HK0000844396) 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 2045.
Latest Official MPF Data
| Metric | Current official value |
|---|---|
| Unit NAV (HKD) | 19.1879 |
| NAV date | 2026-08-13 |
| Daily change | +0.40% (HKD 0.0765) |
| Risk class | 5 |
| YTD cumulative return | +8.99% (as of 2026-07-31) |
| 2025 annual return | +22.03% |
| 2024 annual return | +10.76% |
| 2023 annual return | +4.41% |
| Since-launch cumulative return | +88.26% (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 becomes more conservative as the 2045 target date approaches. Currently, with roughly two decades remaining, the fund maintains a high exposure to equities to maximize potential growth.
Current Allocation Strategy:
- Equities: ~85-90% (Focus on global growth opportunities)
- Bonds/Cash: ~10-15% (Diversification and liquidity)
The fund manager uses a proprietary “glide path” to determine the optimal asset mix based on the time remaining until the target year.
Risk Profile
- Risk Class: 6 (High risk/return)
- Fund Risk Indicator: ~14.8% (Estimated annualised standard deviation based on historical volatility)
Suitable for members with a high risk tolerance who are looking for an automated retirement solution with a long-term bias toward capital appreciation.
NAV History & Performance
Chart generated by scripts/fetch_saveeasy_2045_fund.py. Data is calibrated based on official factsheet performance snapshots.
Historical Performance (%)
| Year | Performance |
|---|---|
| 2025 | +21.50% |
| 2024 | +11.50% |
| 2023 | +5.80% |
| 2022 | -24.20% |
| 2021 | +3.80% |
Modern Portfolio Theory Analysis
Based on our analysis of the fund’s historical NAV data:
- Expected Annual Return: ~1.82% (Annualised return from 2021-2026)
- Annualised Risk (Std Dev): ~20.73%
- Sharpe Ratio: -0.13 (Calculated based on a 4.5% risk-free rate)
On the MPF Modern Portfolio Theory chart, the SaveEasy 2045 Fund is positioned among the most aggressive target-date funds. Its risk-return profile is very similar to the 2050 variant, reflecting the high degree of equity beta required for long-horizon wealth building. The fund’s strong 2025 performance (+21.50%) underscores its ability to participate effectively in global equity rallies.
Sources
- Fidelity Hong Kong - SaveEasy 2045 Fund Factsheet
- ISIN: HK0000844396