HSBC MPF Management fees

HSBC Mandatory Provident Fund - SuperTrust Plus
Name of constituent funds
Management fees1,2
(As a percentage of NAV per annum)
MPF Conservative Fund3 0.75%
Global Bond Fund
0.79%
Guaranteed Fund4,5,7 1.275%
Age 65 Plus Fund
0.75%
Core Accumulation Fund
0.75%
Stable Fund 1.25%
Balanced Fund 1.35%
Growth Fund 1.45%
ValueChoice Balanced Fund
0.79%
Global Equity Fund
0.79%
North American Equity Fund 1.30%
European Equity Fund 1.30%
Asia Pacific Equity Fund 1.45%
Hong Kong and Chinese Equity Fund
1.45%
Chinese Equity Fund
1.45%
ValueChoice US Equity Fund
0.79%
ValueChoice European Equity Fund
0.79%
ValueChoice Asia Pacific Equity Fund
0.79%
Hang Seng Index Tracking Fund8
Up to 0.755%
Hang Seng China Enterprises Index Tracking Fund9
Up to 0.79%
HSBC Mandatory Provident Fund - SuperTrust Plus
Name of constituent funds
MPF Conservative Fund3
Management fees1,2
(As a percentage of NAV per annum)
0.75%
Name of constituent funds
Global Bond Fund
Management fees1,2
(As a percentage of NAV per annum)
0.79%
Name of constituent funds
Guaranteed Fund4,5,7
Management fees1,2
(As a percentage of NAV per annum)
1.275%
Name of constituent funds
Age 65 Plus Fund
Management fees1,2
(As a percentage of NAV per annum)
0.75%
Name of constituent funds
Core Accumulation Fund
Management fees1,2
(As a percentage of NAV per annum)
0.75%
Name of constituent funds
Stable Fund
Management fees1,2
(As a percentage of NAV per annum)
1.25%
Name of constituent funds
Balanced Fund
Management fees1,2
(As a percentage of NAV per annum)
1.35%
Name of constituent funds
Growth Fund
Management fees1,2
(As a percentage of NAV per annum)
1.45%
Name of constituent funds
ValueChoice Balanced Fund
Management fees1,2
(As a percentage of NAV per annum)
0.79%
Name of constituent funds
Global Equity Fund
Management fees1,2
(As a percentage of NAV per annum)
0.79%
Name of constituent funds
North American Equity Fund
Management fees1,2
(As a percentage of NAV per annum)
1.30%
Name of constituent funds
European Equity Fund
Management fees1,2
(As a percentage of NAV per annum)
1.30%
Name of constituent funds
Asia Pacific Equity Fund
Management fees1,2
(As a percentage of NAV per annum)
1.45%
Name of constituent funds
Hong Kong and Chinese Equity Fund
Management fees1,2
(As a percentage of NAV per annum)
1.45%
Name of constituent funds
Chinese Equity Fund
Management fees1,2
(As a percentage of NAV per annum)
1.45%
Name of constituent funds
ValueChoice US Equity Fund
Management fees1,2
(As a percentage of NAV per annum)
0.79%
Name of constituent funds
ValueChoice European Equity Fund
Management fees1,2
(As a percentage of NAV per annum)
0.79%
Name of constituent funds
ValueChoice Asia Pacific Equity Fund
Management fees1,2
(As a percentage of NAV per annum)
0.79%
Name of constituent funds
Hang Seng Index Tracking Fund8
Management fees1,2
(As a percentage of NAV per annum)
Up to 0.755%
Name of constituent funds
Hang Seng China Enterprises Index Tracking Fund9
Management fees1,2
(As a percentage of NAV per annum)
Up to 0.79%

Please refer to the ‘Principal Brochure’ for more details of the management fees and other applicable fees, charges and expense10 of the constituent funds.

1. The management fees of all constituent funds are deducted from the asset of the fund.

2. Management fees include fees paid to the Trustee, Custodian, Administrator, Investment Manager (including fees based on fund performance, if any) and Sponsor of the scheme for providing their services to the relevant fund. They are usually charged as a percentage of the net asset value (NAV) of a fund.

In the case of the Core Accumulation Fund and the Age 65 Plus Fund, management fees payable to the parties named above (excluding the Custodian), or their delegates, can only (subject to certain exceptions in the MPF Ordinance) be charged as a percentage of the NAV of the fund. These management fees are also subject to a statutory daily limit equivalent to 0.75% per annum of the NAV of the fund which applies across both the fund and underlying approved pooled investment fund(s) and ITCIS(s). 

3. Fees and charges of an MPF Conservative Fund can be deducted from either (i) the assets of the fund or (ii) members' account by way of unit deduction. The MPF Conservative Fund of HSBC MPF schemes uses method (i) and, therefore, its unit prices, net asset value (NAV) and fund performance quoted have reflected the impact of fees and charges.

4. The percentage does not include the guarantee charge of 0.75% pa of NAV.

5. The Guaranteed Fund invests solely in an approved pooled investment fund in the form of an insurance policy provided by HSBC Life (International) Limited. The guarantee is also given by HSBC Life (International) Limited. Your investments in the Guaranteed Fund, if any, are therefore subject to the credit risks of HSBC Life (International) Limited. 

Guarantee conditions:

• Withdrawal of mandatory and/or voluntary balances on:

• Termination of employment6

• Reaching retirement age or normal retirement date

• Reaching early retirement date

• Total incapacity

• Terminal illness

• Death

• Permanent departure from Hong Kong

• Making a claim on small balance under section 162(1)(c) of the Mandatory Provident Fund Schemes (General) Regulation ('General Regulation')

• Transfer of balances to a recipient scheme on termination of employment6

6. This condition does not apply to balances in a personal account (as defined in the General Regulation) or a TVC account invested in the Guaranteed Fund. However, the other Guarantee Conditions will still be applicable to the accrued benefits held in the personal account or TVC account. Please refer to the ‘Guarantee features’ section under ‘Guaranteed Fund’ in Part II – Fund Structure of the ‘Principal Brochure’ for full details of the guarantee features and Guarantee Conditions, including the guarantee features in the context of payment of benefits in instalments. 

7. The account balance of a member in the Guaranteed Fund will be crystallised (the ‘Crystallised Amount’) on 31 December in the year in which the member reaches age 65. The Crystallised Amount will be the greater of the Actual Balance and the Guaranteed Balance to which he/she would be entitled had he/she withdrawn the benefits from the Guaranteed Fund on 31 December in that year on the ground of reaching retirement age or normal retirement date, as calculated in accordance with the provisions under the ‘Principal Brochure’ (the ‘31 December Amount’). However, where the 31 December Amount is less than the amount of benefits as at the member’s 65th birthday calculated in accordance with the provisions of the ‘Principal Brochure’ (the ‘65th Birthday Amount’), the 65th Birthday Amount will be deemed to be the Crystallised Amount. Where the member switches or withdraws part of his/her investment out of the Guaranteed Fund between his/her 65th birthday and 31 December in that year, the Crystallised Amount will be the higher of the 31 December Amount and the pro-rated 65th Birthday Amount calculated in the following manner: 

(X/Y) times Z

where:

X: the number of Guaranteed Units as at 31 December in the Relevant Year

Y: the number of Guaranteed Units as at 65th birthday of the member

Z: the greater of the Guaranteed Balance and the Actual Balance as at 65th birthday of the member.

The Crystallised Amount will then become the Actual Balance from 1 January in the following year. No further Guarantee will apply to the Crystallised Amount, any new contributions or transfer-in assets that are to invest in the Guaranteed Fund thereafter (the ‘Relevant Amount’). However, while all fees and charges including the guarantee charge will continue to apply to the Relevant Amount, the guarantee charge will be rebated to the member on a monthly basis in arrears, calculated by using the daily net asset value in that month. Please refer to the ‘Guarantee features’ section under ‘Guaranteed Fund’ in Part II – Fund Structure of the ‘Principal Brochure’ for full details.

8. The approved ITCIS directly or indirectly held by the Hang Seng Index Tracking Fund may gain exposure to the Hang Seng Index or its constituent stocks as allowed under the applicable laws and regulations.

9. The approved ITCIS directly or indirectly held by the Hang Seng China Enterprise Index Tracking Fund may gain exposure to the Hang Seng China Enterprises Index or its constituent stocks as allowed under the applicable laws and regulations.

10. Other applicable fees, charges and expenses include but not limited to joining fee, annual fee, contribution charge, offer spread, bid spread, withdrawal charge and other expenses. For further details, please refer to the ‘Principal Brochure’. 

 

Note: Investments involve risks. Past performance is not indicative of future performance. The value of financial instruments, in particular stocks and shares, and any income from such financial instruments, may go down as well as up. For further details including the product features and risks involved, please refer to the ‘Principal Brochure’.