<ET Net News Agency, 16 May 2011> Bank of East Asia (Trustees) Limited, a wholly-owned |
subsidiary of The Bank of East Asia (00023), announced that it will lower management fees |
(also known as Sponsor’s fees) for three Mandatory Provident Fund (MPF) constituent funds |
starting from 1 June. |
The management fees for two MPF Conservative Funds under the BEA (MPF) Master Trust |
Scheme and BEA (MPF) Industry Scheme will be reduced from 1.2% to 0.79% per annum, while |
the management fee for the BEA (MPF) Global Bond Fund under BEA (MPF) Master Trust Scheme |
will be reduced from 1.45% to 0.99% per annum. |
This translates into a management fee reduction of up to 34% for the MPF Conservative |
Funds and 32% for the Global Bond Fund. (KL) |