Brief Introduction Hang Seng Mandatory Provident Fund Important notes Hang Seng Mandatory Provident Fund – SuperTrust, SuperTrust Plus, • The SimpleChoice and ValueChoice are mandatory provident fund schemes. should consider your own risk tolerance level and financial circumstances • You before making any investment choices. When, in your selection of funds, you • • • • are in doubt as to whether a certain fund is suitable for you (including whether it is consistent with your investment objectives), you should seek financial and/ or professional advice and choose the fund(s) most suitable for you taking into account your circumstances. The respective Guaranteed Fund under Hang Seng Mandatory Provident Fund – SuperTrust and SuperTrust Plus 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 relevant Guaranteed Fund, if any, are therefore subject to the credit risks of HSBC Life (International) Limited. Please refer to the ‘Warning’ section under ‘Guaranteed Fund’ in Part II – Fund Structure of the relevant ‘Principal Brochure’ for details of the credit risk. The guarantee in the relevant Guaranteed Fund only applies under certain conditions. Please refer to the ‘Guarantee features’ section under ‘Guaranteed Fund’ in Part II – Fund Structure of the relevant ‘Principal Brochure’ for full details of the guarantee features and Guarantee Conditions. You should not invest based on this document alone and should read the relevant ‘Principal Brochure’. Investment involves 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 relevant ‘Principal Brochure’. Experience you can trust H S e n g MP ang Administrator F Sponsor Trustee and Custodian Administrator Investment Managers HSBC Life (International) Limited servicing retirement schemes in •Started Hong Kong since 1974 40 years of experience in retirement •Over funds administration of the Hong Kong’s largest retirement •One scheme administrators Trustee and Custodian HSBC Provident Fund Trustee (Hong Kong) Limited in Hong Kong and is registered as •Incorporated a Trust Company under the Trustee Ordinance and an Approved Trustee under the Mandatory Provident Fund Schemes Ordinance Investment Managers Sponsor Hang Seng Bank Limited •Founded in 1933 serve over half the adult population of Hong •We Kong through about 220 service outlets. We also maintain branches in Macau and Singapore and a representative office in Taipei on 28 May 2007, our wholly owned •Established subsidiary Hang Seng Bank (China) Limited operates a mainland China network of 50 outlets in Beijing, Shanghai, Guangzhou, Shenzhen, Fuzhou, Nanjing, Dongguan, Hangzhou, Ningbo, Tianjin, Kunming, Xiamen, Chengdu, Foshan, Zhongshan, Huizhou, Zhuhai, Jiangmen and Shantou HSBC Global Asset Management (Hong Kong) Limited / HSBC Investment Funds (Hong Kong) Limited 40 years of experience in managing •Over retirement funds of the Hong Kong’s largest retirement •One fund managers worldwide fund management teams •Experienced investment solutions platform supported •Global by a worldwide network Hang Seng Investment Management Limited •Investment arm of Hang Seng Bank experience in managing index-tracking •Extensive funds, retirement funds, institutional accounts and private client portfolios Awards won by Hang Seng Bank 2014 Best SME’s Partner Award (for 9 consecutive years) (The Hong Kong General Chamber of Small and Medium Business) 2013 Ranked the Strongest Bank Balance Sheet in Asia Pacific in 2013 (The Asian Banker) 2013 Best Domestic Bank in Hong Kong (for 14th consecutive year) (The Asset) 2013 The Best Corporate Governance Bank in Asia for 2012 (21st Century Business Herald) 2012 – 2014 Named Hong Kong Domestic Trade Finance Bank of the Year (Asian Banking & Finance) Greater investment flexibility number of fund switching for Hang Seng • Unlimited Mandatory Provident Fund – SuperTrust, SuperTrust Plus and ValueChoice asset allocations ‘SimpleChoice – • Pre-determined Asset Allocation’, or designate own investment options once per calendar year under Hang Seng Mandatory Provident Fund – SimpleChoice Flexible administration service Employer Straightforward contribution methods Electronic Remittance Statement via Hang Seng Business e-Banking MPF Service File interface Paper-based Remittance Statement • • • Various voluntary contribution arrangements for employers Fixed amount Percentage of the relevant income, either by contribution formula or a flat contribution percentage Lump sum contributions • • • Member Hang Seng MPF Flexi–Contributions Self-arranged contribution instruction totally independent of any employer Monthly contributions as low as HK$300 via direct debit Lump sum contributions as low as HK$1,000 • • • Withdrawal of Flexi–Contributions when in needs Up to 12 times per scheme financial period (from 1 July each year to the following 30 June) without any handling charge Subject to a minimum withdrawal amount of HK$5,000 each time • • • No handling charge for fund switching • No maximum or minimum investment limit in any funds • Change of investment allocation can be done via: – Hang Seng Personal e-Banking – Hang Seng MPF Service Hotline – Paper forms Comprehensive service Employer • Hang Seng MPF Employer Direct • Quarterly Fund Fact Sheet • Monthly Fund Performance Summary • Updates of relevant MPF news team of professionals to provide employers with advice and total solutions in • Aemployee benefits • MPF annual statements • MPF Guide on scheme features, constituent funds and general MPF information • Principal Brochure on product features and risks involved • MPF Tips on administration issues or regulatory updates • Periodic administration seminars Member • Hang Seng MPF Service Hotline • Quarterly Fund Fact Sheet • Monthly Fund Performance Summary • Updates of relevant MPF news Annual Member Benefit Statement, with customised projection of MPF • MPF accrued benefits based on individual’s contributions • Enrolment Kit on scheme features and constituent funds choices • Principal Brochure on product features and risks involved • Member’s Guide on MPF account management • Periodic MPF seminars Diversified member account management service Members can manage their MPF accounts through any of the following channels: Latest contribution (with the amount and fund purchase date) Total account balance Account balance by employer or by fund Latest unit prices of funds Fund information Change of investment allocation (unlimited, with no handling charge) (for Hang Seng Mandatory Provident Fund – SimpleChoice, you may only rebalance your investment portfolio once per calendar year) Changing e-Banking password or MPF phone PIN Forms Internet Hotline ATM Statement Hang Seng Personal e-Banking hangseng.com/e-Banking and Hang Seng MPF Website at hangseng.com/empf Hang Seng MPF Service Hotline 2213 2213 Hang Seng Bank’s and HSBC’s ATMs Statement of integrated account 1 (by account) 2 Changing e-Banking password Commonly used forms Changing MPF phone PIN Commonly used forms Enjoy the advantages of integrated financial services Members can enjoy additional benefits from Hang Seng Bank’s financial services: Single logon to the Hang Seng Personal e-Banking to manage your wealth and MPF account(s) at one glance Check your MPF account balance through your statement of integrated account if you are a Hang Seng Bank integrated account holder Hang Seng MPF members’ MPF balance (including the Personal Account Balance) will be calculated in the ‘Total Relationship Balance’ 3 under your Integrated Accounts 4. Simply maintain the ‘Total Relationship Balance’ 3 at the designated amount or above to enjoy the monthly fee waiver • • • Hang Seng MPF Employer Direct 2288 6822 Hang Seng MPF Service Hotline 2213 2213 Hang Seng MPF website hangseng.com/empf 1 Applicable to Hang Seng Bank integrated account holders. Only for Portfolio Rebalance and Contribution Redirection. 3 The Total Relationship Balance is the monthly aggregate balance of the daily average of all deposits, gold accounts, securities, investment funds, utilized overdraft facilities, credit card cash advances, outstanding balance of personal loans and the accumulated premiums paid for the designated life insurance plans distributed by Hang Seng Bank as an agent as well as Hang Seng MPF balance. For sole name Integrated Account holders, their other joint name account(s) will also be included. 4 Integrated Accounts include Prestige Banking, Preferred Banking or Integrated Account. 2 Our management fees The management fees (as a percentage of the net asset value (‘NAV’) per annum) of the constituent funds under each Hang Seng MPF scheme is briefly summarised as below for reference only. Please refer to the relevant ‘Principal Brochure’ for more details of the management fees and other applicable fees, charges and expenses 5 of the constituent funds. Hang Seng Mandatory Provident Fund – SuperTrust Name of constituent fund MPF Conservative Fund 8 Guaranteed Fund 9, 10, 12 Balanced Fund Growth Fund Hang Seng Index Tracking Fund Management fees 6 (As a percentage of NAV per annum) Contribution account Personal account 7 0.79% 0.79% 2.50% 2.25% 1.70% 1.45% 1.75% 1.50% 0.79% 0.79% Hang Seng Mandatory Provident Fund – SuperTrust Plus Name of constituent fund MPF Conservative Fund 8 Guaranteed Fund 9, 10, 12 Global Bond Fund Flexi-Managed Fund Stable Fund Stable Growth Fund Balanced Fund Growth Fund North American Equity Fund European Equity Fund Asia Pacific Equity Fund Hang Seng Index Tracking Fund Hong Kong and Chinese Equity Fund Chinese Equity Fund Management fees 6 (As a percentage of NAV per annum) Contribution account Personal account 7 0.79% 0.79% 2.50% 2.25% 0.79% 0.79% 1.45% 1.10% 1.55% 1.25% 1.65% 1.35% 1.70% 1.45% 1.75% 1.50% 1.45% 1.45% 1.45% 1.45% 1.45% 1.45% 0.79% 0.79% 1.45% 1.45% 1.45% 1.45% Hang Seng Mandatory Provident Fund – ValueChoice Name of constituent fund MPF Conservative Fund 8 Global Bond Fund ValueChoice Stable Growth Fund ValueChoice Balanced Fund ValueChoice US Equity Fund ValueChoice European Equity Fund ValueChoice Asia Pacific Equity Fund Hang Seng Index Tracking Fund Hang Seng H-Share Index Tracking Fund Management fees 6 (As a percentage of NAV per annum) Contribution account Personal account 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% Hang Seng Mandatory Provident Fund – SimpleChoice Name of constituent fund MPF Conservative Fund 8 Global Bond Fund Global Equity Fund Management fees 6 (As a percentage of NAV per annum) Contribution account Personal account 0.79% 0.79% 0.79% 0.79% 0.79% 0.79% Diversified investment options Variety designed to suit your needs At Hang Seng, we provide different MPF schemes with a range of diversified constituent funds to meet your unique retirement needs. You can choose from a list of constituent funds available under the MPF scheme you have enrolled. Hang Seng Mandatory Provident Fund – SuperTrust Hang Seng Mandatory Provident Fund – SuperTrust provides a range of five constituent funds including MPF Conservative Fund, Guaranteed Fund, Balanced Fund, Growth Fund and Hang Seng Index Tracking Fund. Name of constituent fund Typical asset allocation 13 Equities Bonds Fund descriptor Cash Money market fund MPF Conservative Fund 8 – 100% Money market fund – Hong Kong Guaranteed fund Guaranteed Fund 9 0-50% 20-100% 0-80% Guaranteed fund – The higher of the Guarantee Balance or the Actual Balance (the value of units held in the Guaranteed Fund) will be paid under the Guarantee Conditions 10 Mixed assets fund Balanced Fund 55-85% 15-45% Mixed assets fund (Global) – Maximum equity around 85% Growth Fund 70-100% 0-30% Mixed assets fund (Global) – Maximum equity around 100% Equity fund Hang Seng Index Tracking Fund 14 100% – Equity fund – Hong Kong Hang Seng Mandatory Provident Fund – SuperTrust Plus If you are looking for greater flexibility in investment choices, our flagship MPF master trust scheme, Hang Seng Mandatory Provident Fund – SuperTrust Plus, is the one for you. This comprehensive scheme provides a variety of constituent funds ranging from conservative to aggressive investments, particularly with equity funds investing in specific market(s). You can therefore choose a combination of constituent funds that best suits your investment needs. Name of constituent fund Typical asset allocation 13 Equities Bonds Fund descriptor Cash Money market fund MPF Conservative Fund 8 – 100% Money market fund – Hong Kong Guaranteed fund Guaranteed Fund 9 0-50% 20-100% Global Bond Fund – 70-100% 0-80% Guaranteed fund – The higher of the Guarantee Balance or the Actual Balance (the value of units held in the Guaranteed Fund) will be paid under the Guarantee Conditions 10 0-30% Bond fund – Global markets Bond fund Mixed assets fund Flexi-Managed Fund 0-35% 65-100% Mixed assets fund (Global) – Maximum equity around 35% Stable Fund 15-45% 55-85% Mixed assets fund (Global) – Maximum equity around 45% Stable Growth Fund 35-65% 35-65% Mixed assets fund (Global) – Maximum equity around 65% Balanced Fund 55-85% 15-45% Mixed assets fund (Global) – Maximum equity around 85% Growth Fund 70-100% 0-30% Mixed assets fund (Global) – Maximum equity around 100% Equity fund North American Equity Fund 70-100% 0-30% Equity fund – North America European Equity Fund 70-100% 0-30% Equity fund – United Kingdom and other continental European countries Asia Pacific Equity Fund 70-100% 0-30% Equity fund – Asia Pacific, excluding Japan 100% – Equity fund – Hong Kong Hong Kong and Chinese Equity Fund 70-100% 0-30% Equity fund – Hong Kong Chinese Equity Fund 70-100% 0-30% Equity fund – China Hang Seng Index Tracking Fund 14 Hang Seng Mandatory Provident Fund – ValueChoice Compared to other Hang Seng MPF schemes, Hang Seng Mandatory Provident Fund – ValueChoice provides more choices of constituent funds with underlying investments focused on index-tracking collective investment schemes (ITCIS). Name of constituent fund Typical asset allocation 13 Equities Bonds Fund descriptor Cash Money market fund MPF Conservative Fund 8 – 100% Money market fund – Hong Kong Bond fund Global Bond Fund – 70-100% 0-30% Bond fund – Global markets Mixed assets fund ValueChoice Stable Growth Fund 35-65% 35-65% Mixed assets fund (Global) – Maximum equity around 65% ValueChoice Balanced Fund 55-85% 15-45% Mixed assets fund (Global) – Maximum equity around 85% ValueChoice US Equity Fund 70-100% 0-30% Equity fund – United States ValueChoice European Equity Fund 70-100% 0-30% Equity fund – European countries ValueChoice Asia Pacific Equity Fund 70-100% 0-30% Equity fund – Asia Pacific, excluding Japan Hang Seng Index Tracking Fund 14 100% – Equity fund – Hong Kong Hang Seng H-Share Index Tracking Fund 15 100% – Equity fund – China Equity fund Hang Seng Mandatory Provident Fund – SimpleChoice Hang Seng Mandatory Provident Fund – SimpleChoice provides a hassle-free way to manage your MPF investment portfolio. It is designed to help those who have less investment experience or without time to manage their MPF account. It offers three constituent funds with a diversified portfolio. Name of constituent fund Typical asset allocation 13 Equities MPF Conservative Fund 8 – Global Bond Fund – Global Equity Fund 70-100% Bonds 100% 70-100% 5 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 relevant ‘Principal Brochure’. 6 The management fees of all constituent funds are deducted from the asset of the fund. 7 A preferential rate on the management fees is applicable to Balanced Fund, Flexi-Managed Fund, Growth Fund, Guaranteed Fund, Stable Fund and Stable Growth Fund under Hang Seng Mandatory Provident Fund – SuperTrust and/or SuperTrust Plus. The discount on the management fees will be refunded as ‘special bonus’ in the form of fund units allocation each month. The ‘special bonus’ is part of the account balance and will be subject to relevant fees and charges applicable to Hang Seng Mandatory Provident Fund – SuperTrust and/or SuperTrust Plus. Fund descriptor Cash Money market fund – Hong Kong 0-30% 0-30% Bond fund – Global markets Equity fund – Global markets 8 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 Hang Seng 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. 9 The respective Guaranteed Fund under Hang Seng Mandatory Provident Fund – SuperTrust and SuperTrust Plus 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 relevant Guaranteed Fund, if any, are therefore subject to the credit risks of HSBC Life (International) Limited. The guarantee in the relevant Guaranteed Fund only applies under certain conditions. Please refer to the ‘Guarantee features’ section under ‘Guaranteed Fund’ in Part II – Fund Structure of the relevant ‘Principal Brochure’ and any supplement to the Principal Brochure for full details of the guarantee features and Guarantee Conditions. 10 Guarantee conditions: > Withdrawal of mandatory and/or voluntary balances on: – Termination of employment 11 – Reaching retirement age or normal retirement date – Reaching early retirement date – Total incapacity –Death – Permanent departure from the Hong Kong SAR – Making a claim on small balance account 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 employment 11 11 This condition does not apply to balances in personal account (as defined in the General Regulation) invested in the Guaranteed Fund. However, the other Guarantee Conditions will still be applicable to the accrued benefits held in the personal account. 12 The percentage includes the guarantee charge of 0.75% per annum of NAV. 13 Typical asset allocation is an indicative reference only and the long-term allocation of the fund may change depending on market conditions. 14 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. 15 The approved ITCIS directly or indirectly held by the Hang Seng H-Share 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. Notes is important that you read this publication in conjunction with the accompanying • It‘Principal Brochure’ which contains more detailed information about Hang Seng Mandatory Provident Fund – SuperTrust, SuperTrust Plus, SimpleChoice and ValueChoice including information on the fund structure, risk involved, fee table and of our ability to alter these fees and charges in the future. involves risks. Past performance is not indicative of future performance. • Investment 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 relevant ‘Principal Brochure’. information contained in this publication is for reference only and the provisions of • The the MPF legislation, other applicable legislation and announcements by the Mandatory Provident Fund Schemes Authority shall prevail. voluntary contributions and Flexi-Contributions are accepted at the discretion • Additional of the Administrator and the Trustee. The Administrator and the Trustee reserve the absolute right not to accept any additional voluntary contributions and Flexi-Contributions at any time. Provident Fund Trustee (Hong Kong) Limited accepts responsibility for • HSBC the accuracy of the information contained in this publication only at the date of publication. Issued by Hang Seng Bank Limited July 2015 L-HAMPF026B v02/0715 (0715) H are in doubt about the meaning or effect of the contents of this document, • Ifyouyoushould seek independent professional advice.
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