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2017 leaders and laggards

China equity funds lead, while natural resources and hedge funds underperform in FSA's year-end ranking of the best and worst performing funds available to Hong Kong and Singapore investors.
2017 leaders and laggards

The XIE Shares FTSE Chimerica ETF delivered 71.71% in 2017, the highest return among funds authorised for sale in Hong Kong, according to data from FE. The Hong Kong-domiciled ETF tracks the performance of Chinese companies listed in the US, such as Alibaba, Baidu, Ctrip, or Netease.

The list of top ten best performing funds and ETFs consists of nine China equity funds and one India equity fund. All of them delivered more than 60% of return on the one-year basis as of 31 December 2017, measured in US dollars.

Top 10 performers (Hong Kong)



1-year Return
XIE Shares FTSE Chimerica ETF China Equity 71.71%
Investec All China Equity Fund* China Equity 69.01%
Hang Seng China Equity China Equity 65.84%
Neuberger Berman China Equity Fund* Greater China Equity 65.10%
Hang Seng Consumer Sector Flexipower Fund China Equity 64.31%
C Shares CSI Consumer Staples Index ETF China Equity 62.25%
CUAM China Hong Kong Strategy Fund Greater China Equity 61.23%
Value Partners Chinese Mainland Focus Fund* China Equity 61.19%
Invesco PRC Equity Fund China Equity 61.00%
Alquity Indian Subcontinent Fund India Equity 60.15%
Data: FE, 31 December 2017, returns in US dollars

The list of worst performers in 2017 consists mostly of physical commodity and energy equity funds, however some China equity funds have also made it to the bottom ten, proving that a rising tide does not, in fact, lift all boats.

In particular, Chinese high-tech stocks listed on the Shenzhen Stock Exchange did poorly compared to Chinese equities overall, dragging down the performance of the CSOP SZSE Chinext ETF.

Bottom 10 performers (Hong Kong)



1-year Return

Invesco Energy Fund*

Energy Equity


Schroder ISF Global Energy Fund

Energy Equity


Schroder AS Agriculture Fund

Physical Commodity (Agriculture)


BOCHK China-A Small and Mid Cap Fund

China Equity



China Equity (Telecommunications, Media and Technology)


Investec Global Energy Fund

Energy Equity


Mirae Assets Horizons S&P Crude Oil Futures Enhanced ER ETF

Physical Commodity


Schroder AS Commodity Fund

Physical Commodity


MFS Meridian Global Energy

Energy Equity


Bosera Global Income Opportunities Fund

Global Fixed Income


Data: FE, 31 December 2017, returns in US dollars
* Funds available for sale in Hong Kong and Singapore

Part of the Mark Allen Group.