Press release

Fidelity Announces across-the-board MPF Fee Reduction

Fidelity Worldwide Investment (“Fidelity”) today announced across-the-board reductions in the management fees charged on all funds grouped under the Fidelity Retirement Master Trust. The cuts of between 0.12 and 0.28 basis points are equivalent to a reduction in fees of between 7.6 and 20.6%. The new fees will come into effect on 12 November 2011, benefitting close to 300,000 existing members immediately and new ones.

Benefitting close to 300,000 existing members and new ones effective November 12

HONG KONG, 10 November 2011 – Fidelity Worldwide Investment (“Fidelity”) today announced across-the-board reductions in the management fees charged on all funds grouped under the Fidelity Retirement Master Trust. The cuts of between 0.12 and 0.28 basis points are equivalent to a reduction in fees of between 7.6 and 20.6%. The new fees will come into effect on 12 November 2011, benefitting close to 300,000 existing members immediately and new ones.

Fidelity is one of the few MPF providers slashing fees across all fund categories – equity funds, conservative funds and bond funds.

KP Luk, Fidelity’s Head of Institutional Business commented, “Fidelity has taken the lead by reducing fees across all its MPF fund offerings for both new and existing members. As our funds under management have grown we have made cost savings and achieved administrative efficiencies, and we are eager to transfer the benefits to our members. The decision to offer such widespread cuts reflects our commitment to maximize the returns on investment for all our members, and shows our intention to fortify our market leadership in retirement provision.”

“Fidelity is dedicated to MPF product innovation and investor education that improves retirement outcomes for all employees,” said Mr. Luk. “All MPF members should consider three essential questions when selecting their MPF service provider: 1) do they offer competitive fees and charges; 2) do they have a stable and good long-term track record in fund performance; and 3) do they provide proactive and top quality client services?” The key to a better retirement life is to manage your money now, and to invest smartly regardless of the different life stages you are at.”

Fidelity’s new fee schedule is outlined below, with the management fees for conservative funds showing the greatest reduction:

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About Fidelity Worldwide Investment

Fidelity Worldwide Investment is a global leader in asset management, providing investment products and services to individuals and institutions in the UK, continental Europe, the Middle East and Asia Pacific. Established in 1969, the company has over 5,000 staff in 24 locations and manages or administers client assets of US$257.3bn as at 30 September 2011. It has over 7 million customer holdings and manages more than 740 equity, fixed income, property and asset allocation funds. The company’s fund managers receive research from one of the largest proprietary research teams, based in 12 countries around the world. Fidelity Worldwide Investment is an independent asset management company which is privately owned.

 

Media Contacts:

Rowena Kwok 

 

Jaime Leung

Head of Corporate Communications

 

Corporate Communications Manager

Tel: +852 2629 2782

 

Tel: +852 2629 2461

Email: rowena.kwok@fil.com

 

Email: jaime.leung@fil.com