Terms and Conditions for Fund Subscription Fee Offer and “Advanced Switching Service” Subscription Fee Offer (the “Offers”)

General Terms and Conditions

  1. The promotion period is from 1 January 2024 to 31 December 2024, both dates inclusive (the "Promotion Period").
  2. The Offers are only applicable to Prestige Private, Prestige Banking, Preferred Banking and Integrated Account customers of Hang Seng Bank Limited (the “Bank") (the “Eligible Customers”).
  3. The Offers will not apply to any investment fund subscription applications which are received after the cut-off time of the relevant funds on 31 December 2024, and such subscription applications will be processed on the next dealing day. Please note that different cut-off times may apply to subscription applications for different funds and/or subscription applications for the same fund through different channels. Customers are advised to contact the Bank’s staff to enquire about the cut-off time for the relevant subscription applications.
  4. The Offers are not applicable to Commercial Banking, Private Banking Account customers and staff account. The Offers cannot be used in conjunction with other offers for the same product(s) or service(s) of the Bank.
  5. No person other than the Customer and the Bank (which includes its successors and assigns) will have any right under the Contracts (Rights of Third Parties) Ordinance to enforce or enjoy the benefit of any of the provision of these Terms and Conditions.
  6. These Terms and Conditions are governed by and will be construed in accordance with the laws of the Hong Kong Special Administrative Region.
  7. These Terms and Conditions are subject to prevailing regulatory requirement.
  8. For more details of the Offers, please contact the Bank’s staff. The Offers are provided by the Bank, which reserves the right to suspend, vary or terminate the Offers and to amend these Terms and Conditions at any time without prior notice. The Bank also reserves the right of final decision on all matters relating to the Offers, which shall be binding on all the parties concerned.
  9. In case of any discrepancy between the English and the Chinese versions of these Terms and Conditions, the English version shall prevail.

Specific Terms and Conditions for Fund Subscription Fee Offer

  1. Eligible Customers who subscribe for funds distributed by the Bank through Investment Fund Account (Account suffix 382) via designated channels below, can enjoy the following offer:
    • Subscribe for bond funds via any channels can enjoy the following offer, bond funds are funds categorized as "Fixed Income" by fund type in "Hang Seng Fund SuperMart" (hangseng.com/Fundsupermart).;
      • Prestige Private customers can enjoy a net 1.5% subscription fee offer
      • Prestige Banking, Preferred Banking and Integrated Account customers can enjoy a net 1.8% subscription fee offer
    • Subscribe for other types of funds via any channels can enjoy the following offer:
      • Prestige Private customers can enjoy a net 1.8% subscription fee offer
      • Prestige Banking customers can enjoy a net 2.3% subscription fee offer
      • Preferred Banking and Integrated Account customers can enjoy a net 2.4% subscription fee offer
    • Subscribe for index funds via Hang Seng Personal e-Banking or Hang Seng Personal Mobile App can enjoy a net 1% subscription fee offer. Index funds are funds categorized as "Index Funds" by fund type in "Hang Seng Fund SuperMart" (hangseng.com/Fundsupermart).
  2. This offer is applicable to certain funds only. Please contact our staff for details.
  3. This offer is not applicable to fund subscription pursuant to a Monthly Investment Plan for Funds, fund transactions through SimplyFund account (under the account number suffix of 384), fund units with no subscription fees, money market funds, fund subscriptions via the “Advanced Switching Service” or other funds/fund transactions as specified by the Bank from time to time.

    4. Specific Terms and Conditions for “Advanced Switching Service” Subscription Fee Offer

  4. Eligible Customers who subscribe for funds distributed by the Bank with “Advanced Switching Service” through Investment Fund Account (Account suffix 382) via designated channels below, can enjoy the following offer:
    • For using “Advanced Switching Service” to subscribe for bond funds via any channels can enjoy the following offer, bond funds are funds categorized as "Fixed Income" by fund type in "Hang Seng Fund SuperMart" (hangseng.com/Fundsupermart);
      • Prestige Private customers can enjoy a net 1.5% subscription fee offer
      • Prestige Banking, Preferred Banking and Integrated Account customers can enjoy a net 1.8% subscription fee offer
    • For using “Advanced Switching Service” to subscribe for other types of funds via any channels can enjoy the following offer:
      • Prestige Private customers can enjoy a net 1.8% subscription fee offer
      • Prestige Banking, Preferred Banking and Integrated Account customers can enjoy a net 2.3% subscription fee offer
    • For using “Advanced Switching Service” to subscribe for index funds via Hang Seng Personal e-Banking or Hang Seng Personal Mobile App can enjoy a net 1% subscription fee offer. Index funds are funds categorized as "Index Funds" by fund type in "Hang Seng Fund SuperMart" (hangseng.com/Fundsupermart).

Notes:

  1. “Advanced Switching Service” ("The Service"):
    • The Service is provided by Hang Seng Bank Limited (the "Bank") and enables customers to use the advance made by the Bank to apply for subscription of units in another fund (the "New Fund") before redemption proceeds from the original fund (the "Original Fund") are deposited into their accounts, regardless of whether the New Fund and the Original Fund are managed by the same fund house, and to allow customers to repay the advanced amount with the redemption proceeds thereafter.
    • Customers should be aware that they may have to provide separate moneys to repay all/part of the advanced amount made by the Bank to the customers for subscription for the New Fund, to bear the redemption fee (if applicable) for the redemption of the Original Fund, and to pay interest and other charge(s) charged by the Bank in certain circumstances.
    • The Service is available to the Investment Fund Account (under the account number suffix of 382) under the Prestige Private, Prestige Banking, Preferred Banking and Integrated Account. Customers have to apply for redemption of a fund with redemption proceeds (estimated by the Bank based on the latest available unit price of that fund) of not less than HKD100,000 (or any other amount as specified by the Bank from time to time) in one single transaction. And for any single fund subscription application through Hang Seng Personal e-Banking, the maximum subscription amount is HKD4,000,000 (or any other amount as specified by the Bank from time to time).
    • The Service does not apply to fund units with no subscription fees, funds with a dealing frequency that is not daily, or other fund transactions as specified by the Bank from time to time. Funds in respect of which the Service is available may be changed from time to time without prior notice.
    • Customers must read the full version of the Terms and Conditions stated in the application form for the Service before applying therefor. By using the Service, customers are deemed to have accepted the full version of the Terms and Conditions for the Service and will be bound by them. Copies of the Terms and Conditions for the Service are available at branches of the Bank and can be downloaded from the website of the Bank.
  2. Apart from the “Advanced Switching Service”, the Bank also provides customers with the General Fund Switching Service, which allows customers to switch funds held with the Bank to other funds managed by the same fund house. Currently, Investment Fund Account (under the account number suffix of 382) customers who switch funds through branches, phone banking or Hang Seng Personal e-Banking are required to pay a switching handling fee of 1%. For details of the General Fund Switching Service and offer, please contact our staff.

Risk Disclosure of Investment Funds

Investors should note that all investments involve risks (including the possibility of loss of the capital invested), prices or value of investment fund units may go up as well as down and past performance information presented is not indicative of future performance. Investors should read carefully and understand the relevant offering documents of the investment funds (including the fund details and full text of the risk factors stated therein) and the Notice to Customers for Fund Investing before making any investment decision. Investment funds are investment products and some may involve derivatives. Investors should carefully consider their own circumstances whether an investment is suitable for them in view of their own investment objectives, investment experience, preferred investment tenor, financial situation, risk tolerance abilities, tax implications and other needs, etc., and should understand the nature, terms and risks of the investment products. Investors should obtain independent professional advice if they have concerns about their investment.


The risks for funds which are index funds include but not limited to:

  • Tracking error risk: There can be no assurance that the performance of the relevant fund will be identical to the performance of the relevant index. Factors such as the fees and expenses borne by the relevant fund, the time differences associated with portfolio re-balancing, the prices at which the constituent stocks of the relevant index are acquired or disposed by the relevant fund, the market condition at the relevant time of acquisition or disposal, the index-tracking strategies or financial derivative instruments used will affect the performance of such fund relative to the relevant index.
  • Passive investment risk: Fund manager does not have any discretion to select stocks individually or to take defensive positions in declining markets or changes in the composition of the index. Hence, any fall in the relevant index will result in corresponding fall in the value of the relevant fund. The composition of the relevant index may change and stocks currently comprising the relevant index may subsequently be delisted. Other stocks may also be added subsequently to become constituent stocks of the relevant index.
  • Concentration risk: The relevant fund may be concentrated in a single or particular sector(s)or single country/ region. The performance of the relevant fund could depend substantially on the performance of the relevant single or particular sector(s)/market(s) and the relevant fund is likely to be more volatile than a broad-based fund as it is more susceptible to adverse conditions in the relevant single or particular sector(s) / market (s). In seeking to reflect the weightings of constituent stocks of the relevant index, investments of the relevant fund may be concentrated in a single constituent stock or several constituent stocks. The performance of the relevant index and the fund may be significantly affected by the price fluctuation of one or several of the constituent stocks of the relevant index.

The risks for funds which are bond funds, including but not limited to the credit/default risks of the issuers of the bonds in which the bond funds invest, interest rate risk and liquidity risk etc.