Fund Choice and Management Fees1
Applicable to TVC & SVC Account| Name of Constituent Funds |
Standard Management Fees
1
(% per annum of net asset value) |
Preferential
Management Fees 1,2 (% per annum of net asset value) |
|---|---|---|
| Equity Funds | ||
| BCT (Pro) China and Hong Kong Equity Fund | 1.43% | 0.99% |
| BCT (Pro) Asian Equity Fund | 1.50% | |
| BCT (Pro) European Equity Fund | ||
| BCT (Pro) Global Equity Fund | 1.44% | |
| Equity Funds - Market Tracking Series | ||
| BCT (Pro) Hang Seng Index Tracking Fund | 0.75%-0.80% | 0.75% |
| BCT (Pro) Greater China Equity Fund |
up to 0.99% | 0.79% |
| BCT (Pro) World Equity Fund | ||
| Target Date Mixed Asset Funds | ||
| BCT (Pro) SaveEasy 2040 Fund |
up to 1.45%
(The fee shall be reduced to up to 1.20% |
0.99% |
| BCT (Pro) SaveEasy 2035 Fund | ||
| BCT (Pro) SaveEasy 2030 Fund | ||
| BCT (Pro) SaveEasy 2025 Fund | ||
| BCT (Pro) SaveEasy 2020 Fund | up to 1.20% | |
| Mixed Asset Funds | ||
| BCT (Pro) E90 Mixed Asset Fund | 1.44% | 0.99% |
| BCT (Pro) E70 Mixed Asset Fund | ||
| BCT (Pro) E50 Mixed Asset Fund | ||
| BCT (Pro) E30 Mixed Asset Fund | ||
| BCT (Pro) Flexi Mixed Asset Fund | up to 1.32% | 0.79% |
|
BCT (Pro) Core Accumulation Fund 3 |
0.75% |
0.75%
Same as Standard Management Fees |
| BCT (Pro) Age 65 Plus Fund 3 | ||
| Bond/Money Market Funds | ||
| BCT (Pro) RMB Bond Fund | 1.175% | 0.79% |
| BCT (Pro) Global Bond Fund | 1.40% | |
| BCT (Pro) Hong Kong Dollar Bond Fund | 0.9995% | |
|
BCT (Pro) MPF Conservative Fund 4 |
0.88% | |
- “Management fees” include the fees of the trustee, administrator, custodian, sponsor and investment manager of a scheme for providing their services to the relevant constituent funds, including trustee fee, administrator fee, custodian fee, sponsor fee and investment manager fee. They are usually charged as a percentage of the net asset value of a fund. In the case of the Core Accumulation Fund and the Age 65 Plus Fund, management fees payable to the parties named above, or their delegates, can only (subject to certain exceptions in the Mandatory Provident Fund Schemes Ordinance) be charged as a percentage of the net asset value of the Default Investment Strategy (“DIS”) Fund. These management fees are also subject to a statutory daily limit equivalent to 0.75% per annum of the net asset value of the DIS Fund which applies across both the DIS Fund and its underlying funds.
- Preferential Management Fee in respect of a fund is arrived at by applying Bonus Unit Rebate to the Standard Management Fees of that fund. The calculation of Preferential Management Fee of each fund is shown as follows: “Preferential Management Fee = Standard Management Fees - the rate of Bonus Unit Rebate”. Bonus unit rebate is calculated on the basis of total net asset value of the relevant account at the end of each month. If there is no asset in the relevant account at the end of that month, no bonus unit rebate will be granted for that month. As the Preferential Management Fees of DIS funds are the same as the Standard Management Fees, there will no bonus unit rebate. Bonus unit rebate will be credited to the relevant account after the end of each quarter. If the member terminates the relevant account or all assets in the relevant account have been transferred out before the end of the quarter, bonus unit rebate for that quarter will be forfeited.
- Categorized as DIS Funds.
- Fees and charges of MPF Conservative Fund can be deducted from either (i) the assets of the fund or (ii) members’ account by way of unit deduction. This fund uses method (i) and, therefore, unit prices / NAV / fund performance quoted have incorporated the impact of fees and charges.
| Name of Constituent Funds |
Standard
Management Fees 1 (% per annum of net asset value) |
Preferential
Management Fees 1,2 (% per annum of net asset value) |
|---|---|---|
| Equity Funds | ||
| BCT (Industry) Hong Kong Equity Fund | up to 1.535% | 0.99% |
| BCT (Industry) Asian Equity Fund | 1.60% | |
| BCT (Industry) Global Equity Fund | 1.59%-1.60% | |
| Mixed Asset Funds | ||
| BCT (Industry) E70 Mixed Asset Fund | 1.53% | 0.99% |
| BCT (Industry) E50 Mixed Asset Fund | ||
| BCT (Industry) E30 Mixed Asset Fund | ||
| BCT (Industry) Flexi Mixed Asset Fund | up to 1.52% | 0.79% |
| BCT (Industry) Core Accumulation Fund 3 | 0.75% |
0.75%
(Same as Standard Management Fee) |
| BCT (Industry) Age 65 Plus Fund 3 | ||
| Bond / Money Market Funds | ||
| BCT (Industry) RMB Bond Fund | 1.175% | 0.79% |
| BCT (Industry) Global Bond Fund | 1.49%-1.50% | |
|
BCT (Industry) MPF Conservative Fund4 |
0.88% | |
- “Management fees” include the fees of the trustee, administrator, custodian, sponsor and investment manager of a scheme for providing their services to the relevant constituent funds, including trustee fee, administrator fee, custodian fee, sponsor fee and investment manager fee. They are usually charged as a percentage of the net asset value of a fund. In the case of the Core Accumulation Fund and the Age 65 Plus Fund, management fees payable to the parties named above, or their delegates, can only (subject to certain exceptions in the Mandatory Provident Fund Schemes Ordinance) be charged as a percentage of the net asset value of the Default Investment Strategy (“DIS”) Fund. These management fees are also subject to a statutory daily limit equivalent to 0.75% per annum of the net asset value of the DIS Fund which applies across both the DIS Fund and its underlying funds.
- Preferential Management Fee in respect of a fund is arrived at by applying Bonus Unit Rebate to the Standard Management Fees of that fund. The calculation of Preferential Management Fee of each fund is shown as follows: “Preferential Management Fee = Standard Management Fees - the rate of Bonus Unit Rebate”. Bonus unit rebate is calculated on the basis of total net asset value of the relevant account at the end of each month. If there is no asset in the relevant account at the end of that month, no bonus unit rebate will be granted for that month. As the Preferential Management Fees of DIS funds are the same as the Standard Management Fees, there will no bonus unit rebate. Bonus unit rebate will be credited to the relevant account after the end of each quarter. If the member terminates the relevant account or all assets in the relevant account have been transferred out before the end of the quarter, bonus unit rebate for that quarter will be forfeited.
- Categorized as DIS Funds.
- Fees and charges of MPF Conservative Fund can be deducted from either (i) the assets of the fund or (ii) members’ account by way of unit deduction. This fund uses method (i) and, therefore, unit prices / NAV / fund performance quoted have incorporated the impact of fees and charges.