Fidelity Launches MPF Asset Consolidation Reward
HONG KONG, 4 May 2015– Fidelity Worldwide Investment today announces it has launched an MPF Asset Consolidation Reward programme. From now until 31 December 2015, MPF members can receive a bonus units rebate of up to HK$1,500 by transferring their accrued MPF benefits to Fidelity Worldwide Investment.
KP Luk, Head of Institutional Business, Hong Kong, Fidelity Worldwide Investmentsaid, “According to the Fidelity MPF Readiness Index survey1, half of all MPF members who own more than one account have never consolidated their MPF accounts. ‘No need to consolidate’ tops the list of reasons for not consolidating, while others said the biggest hurdles are ‘complexity of the process’ and ‘lack of related knowledge and time’.
“By launching the MPF Asset Consolidation Reward, Fidelity Worldwide Investment aims to encourage MPF members to manage their portfolio more proactively. After consolidating their accrued benefits, members can access their information, check their MPF total balance and performance, as well as apply their investment strategy to all their MPF assets in an efficient manner. We believe the enhancement of administrative efficiency will increase the engagement level of MPF members.”
The MPF Asset Consolidation Reward is applicable to a minimum total transfer-in amount of HK$50,000. The bonus unit rebates are as follows:
Total transfer-in amount (HKD) Bonus units rebate (HKD)
$50,000 - below $100,000 $300
$100,000 - below $200,000 $600
$200,000 - below $300,000 $1,000
$300,000 or above $1,500
* Terms and Conditions apply
1/ Source: Nielsen, February 2015
Terms and Conditions
1. The promotion period “Fidelity MPF – Asset Consolidation Reward” (“the promotion”) is valid from 27 April 2015 to 31 December 2015 (both days inclusive).
2. The promotion is applicable to members of Fidelity MPF scheme. A member shall only be regarded as an “eligible member” if he/she completes and submits the required form(s) to trustee of the Fidelity MPF scheme (HSBC Institutional Trust Services (Asia) Limited – Fund Services Hong Kong, Member Services) within the promotion period (based on postal stamp date), and successfully transfers MPF assets of HK$50,000 or above from other MPF service providers to his/her Fidelity account(s) on or before 31 January 2016. Also, the member is required to retain the full amount of MPF assets transferred to his/her Fidelity account(s) until 31 March 2016. The eligible member can receive bonus units rebate from HK$300 up to HK$1,500.
3. The bonus units rebate will be calculated based on the aggregate amount of MPF assets transferred to the member’s account(s) within Fidelity from other MPF service providers between 27 April 2015 and 31 December 2015 (both days inclusive).
4. The bonus units rebate will be credited to the eligible members’ respective Contribution Account, existing Personal Account, and/or new Personal Account as member’s voluntary contribution on or before 30 April 2016.
5. The allocation of the bonus units rebate will follow the investment allocation instruction specified for voluntary contribution portion of the relevant account(s). If there is no investment allocation instruction specified for voluntary contribution portion, the allocation of the bonus units rebate will follow the investment allocation instruction specified for mandatory contribution portion of the relevant account(s). If there is no investment allocation instruction specified for both mandatory and voluntary contribution portions of the relevant account(s), the allocation of bonus units rebate will then follow the default arrangements as set out in the relevant offering document.
6. FIL Investment Management (Hong Kong) Limited (“FIMHK”) will notify all eligible members in writing for the successful credit of the bonus units rebate in the month of April 2016.
7. All members must ensure the accuracy of personal particulars and instructions when completing the required form to avoid any confusion and misunderstanding. FIMHK will not be responsible for any incomplete or incorrectly completed forms received, which may cause a delay of processing or disqualification of entitlement to the promotion.
8. FIMHK reserves the right to vary or cancel the promotion or to modify and/or change the related terms and conditions at any time without further notice.
9. In case of disputes, the decision of FIMHK shall be final and conclusive.
About Fidelity Worldwide Investment
Fidelity Worldwide Investment is an asset manager serving investors in 25 countries across Asia-Pacific, Europe, and Latin America. With USD $285 billion assets under management (AuM) and around 7,000 employees, we are one of the world's largest providers of investment strategies across asset classes, and retirement solutions. Investment is our only business, and our mission is to enable our clients to achieve their financial goals through outstanding investment solutions and service. (Data as at 31 March 2015)
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