The mutual fund price is calculated by Net Asset Value (NAV). NAV represents the price of 1 unit of a mutual fund. It is calculated by the total asset values of underlying assets and divided by the number of units with adjustments for its investment fee and expenses.

Authorised Fund

A unit trust or mutual fund that meets the requirements of the Hong Kong Securities & Futures Commission and is allowed to be sold in Hong Kong. Authorisation does not imply recommendations by the SFC.

Unauthorised Fund

A unit trust or mutual fund that has not been approved for sale to the general public in Hong Kong by the Securities & Futures Commission.

Equity Fund

A unit trust that invests in local and/or overseas stocks. The objective is primarily to seek capital growth.

Bond Fund

A unit trust or mutual fund that invests in debt securities issued normally by corporations and government. Bond funds generally emphasise on regular income stream.

Balanced Fund

A unit trust or mutual fund that aims to provide some combination of growth, income, and conservation of capital by investing in a mix of stocks, bonds, and/or money market instruments.

Sector Fund

A unit trust or mutual fund that concentrates on a relatively narrow market sector, such as utilities or resources funds. These funds can experience higher share-price volatility than some diversified funds because sector funds are subject to issues specific to a given sector.

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