How Are MPF Fund Dealing Prices Determined?

Why isn’t the price I see when placing an order the final dealing price?

MPF funds trade on a “forward pricing” basis — the unit price is only set after the market closes on the dealing day, based on the fund’s net asset value. The MPFA’s “Uncle Jak” column explained that the price members see when issuing an instruction is not the actual transaction price. After the trustee receives a switching instruction and completes the paperwork — typically several business days — the price may already have moved.

How long does transferring a preserved account take?

Moving accrued benefits between trustees involves the old trustee redeeming units, mailing a cheque to the new trustee, and the new trustee buying units — usually six to eight weeks. If markets move during processing, the final redemption price can differ from the instruction date’s price.

Where can I find the latest fund prices?

Trustees must publish constituent funds’ latest offer/bid prices or NAVs at least monthly in one major English and one major Chinese newspaper in Hong Kong; some also publish online. To compare fund performance and fees, visit MPF fund comparison.