|Name of constituent fund||Typical asset allocation6||Fund descriptor|
|Money market fund|
|MPF Conservative Fund 1||-||100%||Money Market Fund – Hong Kong|
|Global Bond Fund||-||70-100%||0-30%||Bond Fund – Global Markets|
|Guaranteed Fund 2,4||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 3|
|Mixed assets fund|
|Age 65 Plus Fund||15-25%||75-85%||Mixed assets fund (Global) - Maximum equity around 25%|
|Core Accumulation Fund||55-65%||35-45%||Mixed assets fund (Global) - Maximum equity around 65%|
|Stable Fund||15-45%||55-85%||Mixed assets fund (Global) – Maximum equity around 45%|
|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%|
|ValueChoice Balanced Fund||55-85%||15-45%||Mixed assets fund (Global) – Maximum equity around 85%|
|Global Equity Fund||70-100%||0-30%||Equity fund – Global markets|
|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|
|Hong Kong and Chinese Equity Fund||70-100%||0-30%||Equity fund – Hong Kong and China|
|Chinese Equity Fund||70-100%||0-30%||Equity fund – China|
|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 7||100%||-||Equity fund – Hong Kong|
|Hang Seng China Enterprises Index Tracking Fund 8||100%||-||Equity fund – China|
Default Investment Strategy
The Default Investment Strategy (‘DIS’) is a ready-made investment arrangement mainly designed for those members who are not interested or do not wish to make an investment choice, and is also available as an investment choice itself, for members who find it suitable for their own circumstances. For those members who do not make an investment choice, their contributions and accrued benefits transferred from another Registered Scheme will be invested in accordance with the DIS.
The DIS aims to balance the long term effects of risk and return through investing in two constituent funds, namely the Core Accumulation Fund and the Age 65 Plus Fund, according to the pre-set allocation percentages at different ages. The DIS will manage investment risk exposure by automatically reducing the exposure to higher risk assets and correspondingly increasing the exposure to lower risk assets as the member gets older.
For further details of the DIS, please refer to the ‘Principal Brochure’.
|1.||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 the Hang Seng Mandatory Provident Fund – SuperTrust Plus uses method (i) and, therefore, its unit prices, net asset value (NAV) and fund performance quoted have reflected the impact of fees and charges.|
|2.||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.
The guarantee in the Guaranteed Fund only applies under certain conditions. 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.
> Withdrawal of balances on:
– Termination of employment 5> Transfer of balances to a recipient scheme on termination of employment 5
– Reaching retirement age or normal retirement date
– Reaching early retirement date
– Total incapacity
– Terminal illness
– Permanent departure from the Hong Kong SAR
– Making a claim on small balance under section 162(1)(c) of the Mandatory Provident Fund Schemes (General) Regulation (‘General Regulation’)
|4.||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
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.
|5.||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.|
|6.||Typical asset allocation is an indicative reference only and the long-term allocation of the fund may change depending on market conditions.|
|7.||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.|
|8.||The approved ITCIS directly or indirectly held by the Hang Seng China Enterprises 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.|
|Hang Seng MPF Hotline||MPF Specialists at Designated Branches|
|Existing MPF Customers||Service hours:Mon - Fri,9 am to 5 pm|
|- Employers: 2288 6822|
|- Members / Self-employed persons: 2213 2213|
|- HKSARG Employees: 2269 2269|
|Non-existing MPF Customers|
|- Enquiries / Apply for Hang Seng MPF: 2997 2838|