• Fidelity SaveEasy Funds are not savings deposits and involve investment risks. This product may not be suitable for everyone. Investors should also consider factors other than age and review their own investment objectives.
  • The MPF Conservative Fund under the Fidelity Retirement Master Trust does not guarantee the repayment of capital. The purchase of a Unit in the MPF Conservative Fund is not the same as placing funds on deposit with a bank or deposit-taking company.
  • You should consider your own risk tolerance level and financial circumstances before making any investment choices or invest according to the Default Investment Strategy. 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.
  • You should not invest based on the information on this website alone and should read the Principal Brochure of Fidelity Retirement Master Trust for details including the risk factors, before making any investment decision.
  • Investment involves risks, you may suffer significant loss of your investments. Past performance is not indicative of future performance.

Selecting funds for your MPF

Our MPF constituent funds

When you are enrolled into an MPF scheme, you will have to choose what types of constituent funds you would like to invest in. When doing so, you should refer to the Principal Brochure of Fidelity Retirement Master Trust for information on the investment objective, investment policy and risk factors of each constituent fund. Getting yourself familiarised with such information will enable you to choose funds with reference to your own investment objectives, financial circumstances and risk tolerance.

Each of the constituent funds in the Fidelity Retirement Master Trust belongs to one of the following four fund types with different risk/return profiles:

 
An Equity Fund seeks a higher rate of return through capital appreciation of stocks (or shares), traded mainly on stock exchanges approved by Mandatory Provident Fund Schemes Authority (MPFA). The risks of an Equity Fund are generally higher than those of other types of funds. Returns may be affected by factors such as the volatility of stock markets and fluctuations in exchange rates.
 
A Mixed Assets Fund invests primarily in a mix of bonds and equities. Mixed Assets Funds have different risk levels, depending on the allocation between equities and bonds. The greater the investment in stocks, the higher the risk.
 
A Bond Fund invests in bonds or debt instruments issued by governments, public organisations, banks, commercial organisations or supranational agencies like the World Bank. Returns are generated by recurrent interest earned from the underlying bonds and any profit earned from trading the bonds in the market. The risk level of a Bond Fund is low to medium, depending on the issuer and changing market conditions that affect bond prices. Bond prices, and thus fund prices and returns, may be adversely affected by fluctuations in interest rates; fluctuations in exchange rates if the fund invests in bonds denominated in a foreign currency; and changes to the credit ratings of a bond.
 
In accordance with the Mandatory Provident Fund Schemes Ordinance, Fidelity Retirement Master Trust provides an MPF Conservative Fund for members to choose. An MPF Conservative Fund is essentially a Money Market Fund which invests exclusively in Hong Kong-dollar assets either in short-term bank deposits or short-term bonds of short maturity (on average, not over 90 days). The risk level of an MPF Conservative Fund is, therefore, relatively low. However, note that on some occasions, the returns on an MPF Conservative Fund might not be able to beat inflation and may even be negative.

To understand more about MPF funds and their features, you may visit the MPF Education section of the Mandatory Provident Fund Schemes Authority website.

Risk and return profile

Return means the expected percentage return of a constituent fund over any measured time period. Rates of returns vary over time and may be positive or negative. Risk means the expected level of volatility of returns over any measured time period. The level of volatility varies over time.

Lowest Low Medium High Highest
Risk/Return rating+

The constituent funds we offer are rated using a 5-point risk/return scale. As shown in the diagram above, risk/return rating “1” represents the lowest risk/return profile and risk/return rating “5” represents the highest risk/return profile. The risk/return ratings are provided by the Investment Manager based on in-house analysis. They are for reference only and may be subject to change, without prior notice, according to regular review (at least once a year) depending on the market conditions.



We have created the risk/return profile for each constituent fund after consideration of the risk factors described in the Principal Brochure of Fidelity Retirement Master Trust, prevailing market as well as political, structural, economic and other conditions, and the anticipated asset allocation of the fund. Investors should always consider their individual risk and return profile.


Pick the constituent funds with reference to your needs

Please find below a selection of 19 constituent funds from the Fidelity Retirement Master Trust for you to choose from. You can decide on the percentage of contributions that goes into each of these constituent funds according to your investment objectives, financial circumstances and risk tolerance.

Market Investment Funds - Equity Funds

 
Fund type: Equity

Asia Pacific Equity Fund
Global Equity Fund
Hong Kong Equity Fund

 
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Index Tracking Funds

 
Fund type: Equity

Fidelity Hong Kong Tracker Fund

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Lifecycle Funds

 
Fund type: Mixed assets

Growth Fund
Balanced Fund
Stable Growth Fund
Capital Stable Fund

The funds aim to maintain a broad geographic diversification with a bias towards Hong Kong.

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Default Investment Strategy

 
Fund type: Mixed Asset

Fidelity Retirement Master Trust - Core Accumulation Fund
Fidelity Retirement Master Trust - Age 65 Plus Fund

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Market Investment Funds - Bond Funds

 
Fund type: Bond

Hong Kong Bond Fund
RMB Bond Fund
World Bond Fund

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MPF Conservative Fund

 
Fund type: Money Market

MPF Conservative FundΔ

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SaveEasy Funds

 
Fund type: Mixed assets

Fidelity SaveEasy 2050 Fund*
Fidelity SaveEasy 2045 Fund*
Fidelity SaveEasy 2040 Fund*
Fidelity SaveEasy 2035 Fund*
Fidelity SaveEasy 2030 Fund*
Fidelity SaveEasy 2025 Fund*
Fidelity SaveEasy 2020 Fund*

All SaveEasy Funds are target-date fund products which aim to maintain an asset allocation appropriate to achieve a combination of income and long term capital growth as the relevant target year approaches whilst managing the volatility of returns in the short term. As and when the SaveEasy Funds exposures change, the risk/return rating of the SaveEasy Funds would move lower down the risk/return rating scale. Details are described in the sub-section headed “Risk and Return Profile” and the chart displaying the Fidelity SaveEasy Funds Asset Rolldown in the sub-section headed “SaveEasy Funds” in the Principal Brochure of Fidelity Retirement Master Trust.

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  • ^Investors are reminded that the above only represents the target asset allocations of the Constituent Fund and the actual asset allocations will at times vary considerably from that shown above as market, political, structural, economic and other conditions change. For the actual asset allocations of each Constituent Fund, you may refer to the Monthly Investment Report of the relevant Constituent Fund which is available after clicking on the fund name.
  • +Risk/Return Rating is defined using a 5-point risk/return scale as 1 = Lowest risk/return, 2 = Low risk/return, 3 = Medium risk/return, 4 = High risk/ return, 5 = Highest risk/return. The risk/return profile for each Constituent Fund is created by FIL Investment Management (Hong Kong) Limited (“Fidelity”), based on its in house analysis, after consideration of the “Risk Factors” described in the Principal Brochure of Fidelity Retirement Master Trust, prevailing market, political, structural, economic and other conditions, and the anticipated asset allocation of each Constituent Fund. The risk/return ratings are provided by Fidelity to investor for reference only and may be subject to change according to regular review (at least once a year) by Fidelity depending on the market conditions without prior notice. Investor should always consider their individual risk and return profile. For the current risk/return rating of each Constituent Fund, please click on the fund name for details.