AIA open to Employee Choice Arrangement, may consider RMB products

As MPF fee competition continues — with every new MPF fund fees comparison putting trustees under the microscope — AIA today unveiled a customer value proposition and cut management fees on three existing funds. AIA (Trustee) chief executive Bonnie Tse said she believes rivals will take note of the move, though she couldn’t say whether they will follow suit; both new and existing AIA customers benefit since fees are standardised.

What’s AIA’s stance on the Employee Choice Arrangement?

Tse is open to the arrangement launching in the second half of next year. She said the company is in close contact with the MPFA and is well prepared for the rollout.

Any renminbi products coming?

On possible RMB products, Tse said foreign exchange controls and other coordination would matter. She added that if investment returns are satisfactory, fund managers may consider adjusting their positioning.

(Note: parts of the original text were corrupted; this version is reconstructed from the legible portions and same-day reports of the press conference.)

Compare fund fees at MPF fund comparison.