OREANDA-NEWS. HSBC announced that effective 1 March 2015, the management fees of 22 constituent funds under all the four existing schemes of HSBC Mandatory Provident Fund ("MPF") -SuperTrust Plus, SuperTrust, SimpleChoice and ValueChoice will be reduced. Both contribution account and personal account holders will benefit from this fee reduction arrangement.

The management fees of 22 constituent funds (including 10 constituent funds under SuperTrust Plus, 2 constituent funds under SuperTrust, 2 constituent funds under SimpleChoice and 8 constituent funds under ValueChoice) will be reduced up to a maximum of 36.8%. After the reduction, the management fees for all constituent funds under SimpleChoice and ValueChoice will be as low as 0.79% per annum of net asset value ("NAV"). Please refer to the Appendix for the summary of fee reduction details.

Lily Ng, Director and Head of Employee Benefits for HSBC Insurance in Hong Kong said, "MPF forms an important component of retirement savings and is a long-term investment. As one of the largest MPF providers in Hong Kong, HSBC understands the unique and complex needs of our customers for retirement and wealth management. We will continue to review our fee structure and services regularly, and strive to meet our customers' retirement needs by providing value-added services and excellent customer experience across the channels of their choice."

HSBC currently provides four MPF schemes with a range of diversified constituent funds to match customers' individual risk profiles. Customers can manage their MPF account conveniently via various service channels including the branch, online, mobile or phone banking. HSBC MPF account balances form part of customers' 'Total relationship balance', allowing members to easily qualify for an HSBC Premier or HSBC Advance account to enjoy more privileges on HSBC's services.