September 2019 1 The University MPF Scheme Member Briefing Session - - PowerPoint PPT Presentation

The University MPF Scheme Member Briefing Session

September 2019

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1) Presentation by PolyU (5 mins) Wing Cheng Assistant Finance Manager PolyU 2) Presentation by BOCI-Prudential (25 mins) Anthony Wong Senior Vice President BOCI-Prudential Asset Management Limited 3) Presentation by FIL Investment (25 mins) Silvia Kong Client Director FIL Investment Management (Hong Kong) Limited 4) Questions & Answers session (20 mins)

The University MPF Scheme – Member Briefing Session

Programme Rundown:

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Master Trust Scheme (“MTS”) Fidelity Retirement Master Trust (“FRMT”) BOC-Prudential Easy- Choice MPF Scheme (“BOC-Prudential”) Effective Date 1 December 2000 1 November 2010 Investment Manager FIL Investment Management (HK) Ltd BOCI-Prudential Asset Management Ltd Trustee/Administrator HSBC Institutional Trust Services (Asia) Limited (“HSBC”) BOCI-Prudential Trustee Limited (“BOCI-P”) Investment Options 22 (21 funds + DIS option) 17 (16 funds + DIS option) Mgt fee (% p.a. of NAV) Equity funds

• Index tracking funds
• Non-index tracking funds

Mixed assets funds

• DIS funds
• Target date funds
• Other lifecycle funds

Bond funds Money market funds 0.70% 1.45% 0.75% 1.20% - 1.45% 1.45% 1.20% - 1.45% 0.93% (net after rebate) 0.90% 1.00% 0.75% N/A 1.00% 0.85% 0.80% As at 30 Jun 2019

• No. of PolyU members
• PolyU asset size

(Total master trust asset size) 3,875 HK$2,364 million (HK$42.0 billion) 1,959 HK$195 million (HK$66.0 billion)

The University MPF Scheme – Member Briefing Session

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Highlight of Scheme Switching Guideline:  Two scheme switching exercises every year, with effective dates on 1 May and 1 November;  Members could switch only once every calendar year;  New appointees may join scheme switching exercises only after 3 months of joining the University; and  All accrued benefits in the existing MTS should be redeemed and transferred to the new MTS.

The University MPF Scheme – Member Briefing Session

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Highlight of Scheme Switching Timeline (effective date = 1 Nov 2019):

Date Responsible Party Activities T – 18 working day 8 Oct 2019 Members Deadline for members to submit the below forms to FO:

• 1. Member’s Election Form for Switching of MPF Scheme
• 2. Membership Enrolment Form for the new MPF scheme

T - 6 working day 24 Oct 2019

(cut-off, 4pm)

BOCI-P / HSBC Last day for the existing scheme trustee to accept switching-

• ut members’ instruction to change investment allocation

under the existing MPF scheme T - 1 working day 31 Oct 2019 BOCI-P / HSBC Dealing date: Existing scheme trustee to redeem members’ benefit balance holdings under the existing MPF scheme T 1 Nov 2019 1st day of membership under the new MPF scheme T + 7 working day 12 Nov 2019

(cut-off, 4pm)

BOCI-P / HSBC Last day for the new scheme trustee to accept switching-in members’ instruction on change of investment allocation for transferred benefit balance T + 11 working day 18 Nov 2019 BOCI-P / HSBC Dealing date: New scheme trustee to subscribe for fund units T + 14 working day 21 Nov 2019 Members can view their transfer-in benefit balance in BOC- Prudential / FRMT via internet

The University MPF Scheme – Member Briefing Session

Note: Scheme switching takes 12 working days. Members’ assets will be out of market during this period and without any investment gain or loss. 5

Members who elect to switch between the two MTSs should: a) Read and understand the Guideline on Switching of MPF Scheme and Timeline on Switching of MPF Scheme; b) Refer to the Comparison

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scheme features and performance; and c) Return the completed forms below to the Finance Office by the prescribed deadline: i) Member’s Election Form for Switching of MPF Scheme ii) Membership Enrolment Form for the new MPF scheme

The University MPF Scheme – Member Briefing Session

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All documents about the scheme switching are available at the FO website as follows:

The University MPF Scheme – Member Briefing Session

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Thank You