BEA Cuts 3 MPF Fund Fees by Over 30% — Conservative Fund Down From 1.20% to 0.79%
2011-05-17
Marcus Tang
Bank of East Asia’s BEA Trustees announced fee cuts on three MPF constituent funds, effective 1 June 2011. Conservative fund fees fall from 1.20% to 0.79% — a 34% cut.
Which three funds?
| Fund | Old fee | New fee | Cut |
|---|---|---|---|
| Master Trust Scheme Conservative Fund | 1.20% | 0.79% | 34% |
| Industry Scheme Conservative Fund (catering, construction and other high-turnover trades) | 1.20% | 0.79% | 34% |
| Master Trust Scheme Global Bond Fund | 1.45% | 0.99% | 32% |
The cuts apply to the sponsor fees stated in the scheme brochures. BEA Trustees CEO Li Cheuk-ming said the firm had over 480,000 contributing members and HK$13+ billion under management at end-March — the cuts reward existing members and sharpen competitiveness.
Compare scheme charges at MPF fund comparison.
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