HSBC Cuts MPF Fees, 100,000 Members Benefit

How big are the cuts?

From 1 March, HSBC slashed fees on three funds by up to 40%, benefiting over 100,000 contributors. The Hang Seng Index fund’s annual management fee drops from 1.5% to 0.9%; the conservative and global bond funds are also cut. Even so, HSBC’s 0.9% still trails BOC-Prudential’s 0.7%.

Why the sudden move?

HSBC denies outside pressure; the industry sees it as locking in existing clients ahead of the Employee Choice Arrangement. Compare trustee fees and performance on MPF fund comparison.