Flexible ． Aggressive Enhancing your growth potential [Topic] [Topic] [Date] [Date] 1
Important notes: • You should consider your own risk tolerance level and financial circumstances 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. • Your investment decision should not be based on this document alone. Please read the relevant principal brochures for further details, including the risk factors. • Bank Consortium Capital Preservation Fund and BCT Capital Preservation Fund of the relevant schemes do not guarantee the repayment of capital. 2
Content Content • Company Background • Bank Consortium MPF Plan • Fund Performance • Fees & Charges • Employer & Employee Servicing • Q & A 3
Company Background Background Solid Shareholder Group • Founded in 1999 and registered as a trust company and an Approved Trustee under MPFS Ordinance • Shareholder group comprises of a consortium of financial institutions with long history and reputation in Hong Kong We enjoy full support from our shareholder group 4
Company Background Company Background Strong Financial Standing / Market Position • Total assets of the shareholder group and the total shareholder funds stood at more than HK$844 billion and HK$85 billion respectively with over 300 branches as at 31 December 2009. • One of the top five MPF service providers* with total asset under administration over HK$70 billion and provide retirement scheme services for over 750,000 members in Hong Kong as at Feb 2011. Comprehensive Pension Products / Services • We offer full range of pension products / services: • Bank Consortium MPF Plan (a master trust scheme); • Bank Consortium Industry Plan (an industry scheme); • ORSO schemes (pooled and independent schemes); and • Third-party scheme and fund administration service. * Source: Watson Wyatt – MPF Annual Report 2009 5
Content • Company Background • Bank Consortium MPF Plan • Fund Performance • Fees & Charges • Employer & Employee Servicing • Q & A 6
MPF Structure BCT � act as the MPF plan’s sponsor, Sponsor administrator, trustee and custodian � appoint independent investment managers for the funds BCT Administrator / Trustee Custodian External Fund Managers – “Multi-manager” investment approach 7
World-class Investment Managers Our fund managers: • FIL Investment Management (H.K.) Ltd. • Franklin Templeton Investments (Asia) Ltd. • Invesco Hong Kong Ltd. • JPMorgan Funds (Asia) Ltd. • Legg Mason Asset Management Hong Kong Ltd. • RCM Asia Pacific Ltd. • Schroder Investment Management (H.K.) Ltd. • State Street Global Advisors Asia Ltd. 8
“Multi-manager” Investment Approach • select the most appropriate fund managers for a specific asset class through detailed analysis and due diligence processes • provide members with expert management by bringing together the expertise of different fund managers with a variety of investment philosophies • continued fund performance monitoring - if any fund manager’s performance is consistently below expectation, it will be subject to more stringent monitoring and eventual replacement if necessary • in which E30, E50 and E70 Mixed Asset funds are jointly managed by Invesco, Legg Mason, RCM AP and Schroders 9
Advantages of “Multi-manager” Investment Approach “Don’t put all your eggs in one basket.” • The idea of risk diversification is not limited to asset allocation in your portfolio. It is important but far from enough. You can diversify risk in another aspect by adopting multi-investment strategies in managing your funds. 10
Bank Consortium MPF Plan: 20 Funds Fund Type Fund Name Fund Manager China and Hong Kong Equity Fund Invesco Hong Kong Ltd Hong Kong Equity Fund Legg Mason Asset Management Hong Kong Ltd Hang Seng Index Tracking Fund State Street Global Advisors Asia Ltd Equity Funds Asian Equity Fund Schroder Investment Management (Hong Kong) Ltd European Equity Fund Invesco Hong Kong Ltd Global Equity Fund Franklin Templeton Investments (Asia) Ltd International Equity Fund Fidelity Investments Management (Hong Kong) Ltd SaveEasy 2040 Fund SaveEasy 2035 Fund Life Cycle Funds SaveEasy 2030 Fund Fidelity Investments Management (Hong Kong) Ltd SaveEasy 2025 Fund SaveEasy 2020 Fund E90 Mixed Asset Fund Fidelity Investments Management (Hong Kong) Ltd E70 Mixed Asset Fund RCM Asia Pacific Ltd Mixed Asset Funds Invesco Hong Kong Ltd E50 Mixed Asset Fund Legg Mason Asset Management Hong Kong Ltd Schroder Investment Management (Hong Kong) Ltd E30 Mixed Asset Fund Absolute Return Fund RCM Asia Pacific Ltd Global Bond Fund Franklin Templeton Investments (Asia) Ltd Lower Risk Funds Hong Kong Dollar Bond Fund JPMorgan Funds (Asia) Ltd MPF Conservative Fund Invesco Hong Kong Ltd Investment involves risk. Past performance is not indicative of future performance. Investors should refer to the principal brochure of the Bank Consortium MPF Plan for further details. 11
Absolute Return Fund aims to achieve absolute returns, there may be circumstances under which this is not possible. Therefore, the absolute positive returns are not guaranteed. Please refer to the “Principal Brochure” of the Bank Consortium MPF Plan for further details, including the risk factors. Fees and charges of capital preservation fund can be deducted from either (i) the assets of the fund or (ii) members’ account by way of unit deduction. These funds use method (i) and, therefore, unit prices / NAV / f und performance quoted have incorporated the impact of fees and charges. An investment in the bank Consortium Capital Preservation Fund i An investment in the bank Consortium Capital Preservation Fund is not the same as placing funds on deposit with a bank or deposi s not the same as placing funds on deposit with a bank or deposit taking company and t taking company and there is no guarantee that the investment can be redeemed at the there is no guarantee that the investment can be redeemed at the subscription value. The Capital Preservation Fund is not subjec subscription value. The Capital Preservation Fund is not subject to the supervision of the t to the supervision of the Hong Kong Monetary Authority. Hong Kong Monetary Authority. - China & Hong Kong Equity Fund Higher Higher - Hong Kong Equity Fund - Hang Seng Index Tracking Fund - Asian Equity Fund - European Equity Fund - Global Equity Fund - International Equity Fund - E90 Mixed Asset Fund Expected Investment Expected Investment - E70 Mixed Asset Fund - E50 Mixed Asset Fund - E30 Mixed Asset Fund Higher Higher Relatively High Relatively High - Absolute Return Fund - Global Bond Fund Return Return Medium to High Medium to High - Hong Kong Dollar Bond Fund - MPF Conservative Fund Medium Medium Higher Higher Risk Low to Medium Low to Medium Risk Level Risk Level Lower Lower 20 funds under 20 funds under Equity Equity, , Mixed Asset Mixed Asset and and Lower Risk Lower Risk at your choice at your choice Lower Lower 12
China & Hong Kong Equity Fund Investment Objective: � To provide long-term capital appreciation by investing solely in the “Invesco Pooled Investment Fund – Hong Kong and China Fund” which is an APIF � To invest primarily in a portfolio of Hong Kong and China-related securities Portfolio Allocation: � Up to 100% in Hong Kong and China-related securities Risk Level: Fund Manager: � Invesco High Low High 13
Hong Kong Equity Fund Investment Objective: � To provide long-term capital appreciation by investing solely in the “Legg Mason Hong Kong Equities Fund” which is an APIF with a dominant emphasis on the Hong Kong equity market Portfolio Allocation: � 60% - 100% in equity securities � 0% - 20% in cash � 0% - 40% in other instruments* Risk Level: High Investors are reminded that this is an indicative allocation only. Fund Manager: Low High � Legg Mason * Other instruments refer to equity Other instruments refer to equity-related securities as permitted by related securities as permitted by Schedule 1 to the MPF regulation Schedule 1 to the MPF regulation 14
Hang Seng Index Tracking Fund Investment Objective: � Provide members with long term capital appreciation by investing solely in the Tracker Fund of Hong Kong, an Index Tracking Collective Investment Scheme (ITCIS) which invests all, or substantially all, of its assets in the shares of constituent companies of the Hang Seng Index in substantially similar composition and weighting as they appear therein, and thereby aims to achieve investment results that closely track the performance of the Hang Seng Index. Portfolio Allocation: � In normal circumstances, the underlying ITCIS will invest up to 100% of its net assets in the constituent stocks of the Hang Seng Index. Risk Level: Investors are reminded that this is an indicative allocation only. High Fund Manager: � State Street Global Advisors Asia Limited Low High *Other instruments refer to equity Other instruments refer to equity-related securities as permitted by Schedule 1 to the MPF regula related securities as permitted by Schedule 1 to the MPF regulation tion 15
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