Fidelity Launches MPF Asset Consolidation Reward Programme
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-You should consider your own risk tolerance level and financial circumstances before making any investment decision. When, in your selection of funds or the Default Investment Strategy, you are in doubt as to whether a certain fund or the Default Investment Strategy is suitable for you (including whether it is consistent with your investment objectives), you should seek financial and/or professional advice and make investment choices most suitable for you taking into account your circumstances.
-In the event that you do not make any investment choices, please be reminded that your contribution made and/or benefits transferred into the Master Trust will unless otherwise provided in this Principal Brochure be invested in accordance with the Default Investment Strategy which may not necessarily be suitable for you.
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-You should not invest based on this document alone and should read the Principal Brochure of Fidelity Retirement Master Trust (“FRMT”) (including potential risks involved) for further information, before making any investment decision.
- Encourages members to consolidate MPF accounts with bonus units rebate
- Winning Morningstar’s Best MPF Scheme Award2 for 4th consecutive year
- Awarded 2017 MPF Scheme of the Year4 by MPF Ratings
Hong Kong, 21 March 2017 – Fidelity International today announced the launch of a Mandatory Provident Fund (MPF) Asset Consolidation Reward programme, which will run from now until 30 June 2017.
Under the reward programme, MPF members will receive a bonus units rebate of up to HK$1,500* by transferring their accrued MPF benefits to Fidelity International. The size of the rebate will increase according to the amount of benefits transferred, with HK$50,000 being the minimum amount to qualify.
|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 & Conditions are shown below.
KP Luk, Head of Hong Kong Defined Contributions Business, Fidelity International, said: “The MPF Asset Consolidation Reward programme is part of our ongoing commitment to encourage members to manage their MPF more proactively. According to the Fidelity MPF Readiness Index survey1, over 90% of the respondents cited insufficient time is a factor preventing them from taking an active role in MPF management, but 72% of members surveyed have more than two MPF accounts. We hope the programme can incentivise MPF members to consolidating their MPF accounts so that they can manage their MPF portfolios more efficiently.”
The announcement follows Fidelity MPF’s services and products receiving recognition at the Morningstar Awards 2017 Hong Kong. Fidelity Retirement Master Trust won the Best MPF Scheme Award2 for the fourth consecutive year. The award is for the delivery of the best risk-adjusted performance across its MPF offerings, as well as product diversity, transparency and disclosure, and overall investor experience. Fidelity International also won Morningstar’s award for the Best Equity Fund House3, which recognises the strongest risk-adjusted performance across fund line-ups.
Separately, MPF Ratings also awarded Fidelity Retirement Master Trust as the 2017 MPF Scheme of the Year4, along with awards for 5-Year Consecutive Gold Ratings for 20175 and 2017 Best Communication and Education6.
Commenting on the awards, Mr. Luk said: “We are very proud to have won these accolades which highlight how our MPF services and funds provide value to our investors as they save for their retirement. This is a testament to our commitment to bringing sustainable and long-term investment value through offering diverse and high-quality fund portfolios.”
* Terms and Conditions
- The bonus units rebate will be made in the form of bonus units and is subject to the Terms and Conditions. It will be allocated to MPF member’s FRMT account and form part of his/her account value, and will be subject to the relevant fees and charges as mentioned in the Principal Brochure of FRMT.
- The promotion period “Fidelity MPF - Asset Consolidation Reward” (“the promotion”) is valid from 1 December 2016 to 30 June 2017 (both days inclusive).
- The promotion is applicable to all members of the FRMT.
- A member shall only be regarded as an “eligible member” if he/she completes and submits the required form(s) to trustee of the FRMT (HSBC Institutional Trust Services (Asia) Limited) within the promotion period (based on postal stamp date), and successfully transfers MPF assets of HK$50,000 or above from other retirement scheme service providers to his/her Fidelity MPF account(s) on or before 31 July 2017. The eligible member is also required to retain the full amount of MPF assets transferred to his/her Fidelity MPF account(s) until 30 November 2017. The eligible member can receive bonus units rebate from HK$300 up to HK$1,500 (“rebate entitlement”).
- The rebate entitlement will be calculated based on the net aggregate amount of MPF assets transferred to the member’s account(s) within Fidelity from other retirement scheme service providers between 1 December 2016 to 30 June 2017 (both days inclusive). The net aggregate amount will take into consideration of any benefit withdrawal request from the member during promotion period.
- The rebate entitlement 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 November 2017 (“settlement date”).
- The allocation of the rebate entitlement 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 rebate entitlement will follow the default arrangements as set out in the Principal Brochure of FRMT at the time of allocating the rebate entitlement.
- FIL Investment Management (Hong Kong) Limited (“FIMHK”) will notify all eligible members in writing for the successful credit of the rebate entitlement in the month of November 2017.
- All members must ensure the accuracy of personal particulars and instructions when completing the required form(s) to avoid any confusion and misunderstanding. FIMHK will not be responsible for any incomplete or incorrect forms/information received, which may cause a delay of processing or disqualification of entitlement to the promotion.
- 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.
- In case of disputes, the decision of FIMHK shall be final and conclusive.
1. Commissioned by Fidelity International, the “Fidelity MPF Readiness Index” is compiled by Nielsen and conducted between 8 June 2016 and 19 June 2016. The survey has interviewed a total of 1,011 MPF members who are aged between 20 to 65 on full-time or part-time basis with a monthly salary of HK$7,100 or above and have set up an MPF account. In addition, to fully reflect the working population of Hong Kong, a quota is set with respect to the number of respondents for each particular background group.
2. The award only represents Morningstar’s Best MPF Scheme Award Methodology (for details, please visit:http://hkbeta.morningstar.com/ods_images/2017%20Morningstar%20Best%20MPF%20Scheme%20Award%20Methodology.pdf ). The results are based on the quantitative and qualitative assessment of an MPF scheme as of 31/12/2016. The quantitative assessment is based on 1-year, 3-year and 5-year risk-adjusted returns of each constituent fund. The qualitative assessment is based on product diversity, transparency and disclosure, and investor experience of each MPF scheme from 1/1/2016 to 31/12/2016.
3. The award only represents Morningstar’s Best Equity Fund House Award Methodology (for details, please visit:corporate.morningstar.com/us/documents/FundAwards/2017_Intl_Awards_White_Paper-HK.pdf). The results are based on the quantitative and qualitative assessment of a Fund Manager as of 31/12/2016. The quantitative assessment is based on 5-year risk-adjusted returns of each share class of each fund run by a given house.
4. The rating only represents MPF Ratings’ assessment standard (for details, please visit:http://www.mpfratings.com.hk/media/award). The results are based on the investment and performance, fees and charges and assessment of administration services of an MPF scheme (with at least 3 years track record) as of 31/12/2016.
5. The rating only represents MPF Ratings’ assessment standard (for details, please visit:mpfratings.com.hk/media/meth). The results are based on the investment and performance, fees and charges and assessment of administration services of an MPF scheme as of 31/12/2016.
6. The award only represents MPF Ratings’ assessment standard (for details, please visit:mpfratings.com.hk/media/award). The results are based on the assessment of aggregate improvement across the various Communication and Education criteria of an MPF scheme (with at least 3 years track record) as of 31/12/2016.
About Fidelity International
Fidelity International offers world class investment solutions and retirement expertise. We are a privately owned, independent company, with the commitment and resources to provide the investment expertise, technology and service innovation needed to help our clients achieve their financial goals. We invest USD $279 billion globally on behalf of clients in Asia Pacific, Europe, the Middle East, and South America. Our clients range from pension funds, central banks, sovereign wealth funds, large corporates, financial institutions, insurers and wealth managers to private individuals. For institutional clients, we offer tailored investment solutions design and full-service asset management outsourcing. In addition to asset management, we provide investment administration and guidance services for workplace benefit schemes, advisers and individuals in several countries, with USD $83 billion in assets under administration. (Data as at 31 December 2016)
For further information, please contact:
Mariko Sanchanta, Head of Corporate Communications, Asia Pacific (Tel: +852 2629 2808 / Email: email@example.com)
Pieter Bakker, Director, Corporate Communications (Tel: +852 2629 2868 / Email: firstname.lastname@example.org)
Kate Cheung, Corporate Communications Senior Manager (Tel: +852 2629 2641 / Email: email@example.com)
The above awards are for reference only. It is not indicative of the actual performance of the constituent funds. Investment involves risks. Past performance is not indicative of future performance. Please refer to the Principal Brochure of Fidelity Retirement Master Trust for further information including the risk factors. Fidelity, Fidelity International, the Fidelity International logo and F symbol are trademarks of FIL Limited. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity International. Fidelity only gives information about its products and services. Any person considering an investment should seek independent advice on the suitability or otherwise of the particular investment. This material is issued by FIL Investment Management (Hong Kong) Limited.
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