Pension Services

Sun Life MPF Master Trust
(formerly called Schroder MPF Master Trust)

Important Note :

  • Sun Life MPF Master Trust (the “Master Trust”) is a mandatory provident fund scheme.
  • Investment involves risks and not all investment choices available under the Master Trust would be suitable for everyone. There is no assurance on investment returns and your investments/accrued benefits may suffer significant loss.
  • You should consider your own risk tolerance level and financial circumstances before making any investment choices. When, in your selection of funds, you are in doubt as to whether a certain fund is suitable for you (including whether it is consistent with your investment objectives), you should seek financial and/or professional advice and choose the fund(s) most suitable for you taking into account your circumstances.
  • Schroder MPF Capital Guaranteed Portfolio invests solely in an approved pooled investment fund in the form of insurance policy provided by FWD Life Insurance Company (Bermuda) Limited (“FWD”). The guarantee is also given by FWD. Your investments in the Schroder MPF Capital Guaranteed Portfolio, if any, are therefore subject to the credit risk of FWD. The guarantee available under the policy is also subject to certain conditions. Please refer to section 13.5.1 and section 13.6 of the offering document of the Master Trust for details of the credit risk, guarantee features and guarantee conditions.
  • Members reaching 65th birthday or early retiring on reaching age 60 may apply (in such form and on such conditions as the Trustee may from time to time determine but subject to the Mandatory Provident Fund Schemes Ordinance and the Mandatory Provident Fund Schemes (General) Regulation (the “MPFS Regulation”)) for payment of the MPF Benefits in instalments. Please refer to section 5.4 of the offering document of the Master Trust for further details.
  • You are advised to read the offering document and the relevant marketing materials of the Master Trust for further details and risk factors prior to making any investment decision.
 



Issued by Sun Life Hong Kong Limited (Incorporated in Bermuda)
Pension Services

Sun Life MPF Master Trust
(formerly called Schroder MPF Master Trust)

Our MPF product, namely “Sun Life MPF Master Trust”, adopts a specialist approach with the following professional investment services companies.

Sun Life MPF Master Trust offers you a choice of 13 constituent funds, across the risk and return spectrum. These 13 constituent funds include: one conservative portfolio, two bond portfolios, one capital guarantee portfolio, six lifecycle portfolios and three equity portfolios. You can invest in different constituent funds according to your investment objectives and needs.

The above proposed asset allocation is for indicative purposes. Investors should note that the actual allocation may at times be varied from the proposed asset allocation in the offering document as market, economic and other conditions change.
 

† “Short-term debt securities” means (i) debt securities with a maturity of 1 year or less, with a credit rating level set by MPFA; or (ii) debt securities, with a maturity of 2 years or less issued by or guaranteed by specific issuers. For a list of specific issuers, please refer to section 13.5.2(ii)(b) of the offering document.
 

* Characteristics of constituent fund are determined by Schroder Investment Management (Hong Kong) Limited based on a number of factors relating to the underlying investments, including types of asset classes and their respective target weightings, and classification will be reviewed at least yearly by Schroder Investment Management (Hong Kong) Limited.
 

# Effective from 30 September 2015, the constituent fund was renamed from Schroder MPF HK Dollar Fixed Income Portfolio to Schroder MPF RMB and HKD Fixed Income Portfolio.

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Risk and Potential Return Spectrum

You can see below different constituent funds and their risk and potential return. These range from relatively conservative portfolios to higher growth/higher risk portfolios.

† "Short-term debt securities" means (i) debt securities with a maturity of 1 year or less with a credit rating level set by the MPFA; or (ii) debt securities with a maturity of 2 years or less issued by or guaranteed by specific issuers. For a list of specific issuers, please refer to section 13.5.2(ii)(b) of the offering document.
# Effective from 30 September 2015, the constituent fund was renamed from Schroder MPF HK Dollar Fixed Income Portfolio to Schroder MPF RMB and HKD Fixed Income Portfolio.

 

Investors should note that the actual allocation may at times be varied from the proposed asset allocation in the offering document as market, economic and other conditions change.
 

Risk/potential return spectrum is determined by Schroder Investment Management (Hong Kong) Limited based on a number of factors relating to the underlying investments, including the exposure of equities, breadth and geographical diversification. The potential return and risk for each constituent fund is provided for reference only. The potential return does not represent the actual return and is not indicative of future performance. Investors should consider their own circumstances, including, without limitation, their own risk tolerance level, financial circumstances and investment objectives, before making any investment decisions. If you are in any doubt, you should seek independent professional financial advice.
 

Risk/potential return spectrum will be reviewed and, if appropriate, revised at least yearly by Schroder Investment Management (Hong Kong) Limited taking into account the prevailing market circumstances.
Please refer to section 13.6 of the offering document of Sun Life MPF Master Trust for further details of the investment risks of the constituent funds.

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Fund Cruiser (previously known as the “Default Option”)

The Fund Cruiser is generally applicable as the default investment arrangement for members who have a Pre-existing Account and who are aged 60 or above before 1 April 2017. For other members who hold a Pre-existing Account, please see paragraph 11A.2 and paragraph 11A.3.2 of the Offering Document of Sun Life MPF Master Trust for further details on the circumstances in which the Fund Cruiser may apply to Pre-existing Accounts.

The Fund Cruiser is also available as a separate investment choice to a member who chooses the Fund Cruiser as his investment instruction. The conditions for a member to invest in the Fund Cruiser are (i) giving an investment instruction to invest 100% of accrued benefits and contributions in an account into the Fund Cruiser and (ii) all of the accrued benefits in the relevant account are fully invested in the Fund Cruiser.

When you choose the Fund Cruiser, your balances and contributions will automatically be invested to the following arrangement according to your age. Your balances and contributions will also be switched automatically when you reach a different life stage.

Our Fund Cruiser aims to help you at your early working life to gain higher long-term potential investment return, and aims to help those who are close to retirement to reduce short-term investment risk. We assume that a fund with higher equity exposure potentially generates higher returns in the long run but with higher volatility in the short term, compared to a fund with lower equity exposure. For a younger member with a longer investment horizon, he/she can normally tolerate higher short term volatility.

Please note that each constituent fund is subject to market fluctuations and to the risks inherent in all investments and markets. As a result, the prices of units of the constituent funds and the income from units can go down as well as up. Switching of accrued benefits will be subject to risk of market fluctuation. The Trustee and the Investment Manager will have no responsibility for any investment losses sustained by any member as a result of the Fund Cruiser applied.

“Pre-existing Account” refers to an account which exists or is set up before 1 April 2017.

For more details about Fund Cruiser and Default Investment Strategy (“DIS”), please refer to the Offering Document of Sun Life MPF Master Trust or access Sun Life’s website at www.sunlife.com.hk to visit our DIS dedicated website.

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Fees and Charges

Please refer to the offering document of Sun Life MPF Master Trust for details of other applicable fees, charges and expenses of the constituent funds.

^ “Management fees” include fees paid to the trustee, custodian, administrator, investment manager (including fees based on fund performance, if any) and sponsor or promoter (if any) of a scheme for providing their services to the relevant fund. They are usually charged as a percentage of the net asset value of a fund. In the case of the DIS Funds management fees payable to the parties named above, or their delegates, can only (subject to certain exceptions in the MPF Ordinance) be charged as a percentage of the net asset value of a DIS Fund. These management fees are also subject to a statutory daily limit equivalent to 0.75% per annum of the net asset value of the relevant DIS Fund which applies across both the DIS Fund and its underlying approved pooled investment funds.

“DIS Funds” refers to the Schroder MPF Core Accumulation Fund and the Schroder MPF Age 65 Plus Fund and the “DIS Fund” means any of them.

 

Note:

  1. Schroder MPF Conservative Portfolio does not guarantee the repayment of capital. Fees and charges of a MPF conservative fund can be deducted from either (i) the assets of the fund or (ii) member’s account by way of unit deduction. The Schroder MPF Conservative Portfolio uses method (i) and, therefore, unit prices / net asset value / fund performance quoted have incorporated the impact of fees and charges.
  2. Schroder MPF Capital Guaranteed Portfolio invests solely in an approved pooled investment fund in the form of insurance policy provided by FWD Life Insurance Company (Bermuda) Limited (“FWD”). The guarantee is also given by FWD. Your investments in the Schroder MPF Capital Guaranteed Portfolio, if any, are therefore subject to the credit risk of FWD.
    To qualify for the guarantee, a member must hold a beneficial interest at all times in the five year period, referred to as “continuous investment”. The guarantee will become effective: a) at the end of each five year period of continuous investment; and b) over a lesser period if the member reaches the age of 65. The guarantee will not apply in any other circumstances. After each five year period of continuous investment has occurred, a new period will begin as long as the member remains invested in this constituent fund. Any amount withdrawn or switched out from this constituent fund before the member is qualified for the guarantee is fully exposed to fluctuations in the actual market value of this constituent fund.
    Please refer to section 13.5.1 and section 13.6 of the Offering Document of Sun Life MPF Master Trust for details of the credit risk, guarantee features and guarantee conditions.
  3. Effective from 30 September 2015, the constituent fund was renamed from Schroder MPF HK Dollar Fixed Income Portfolio to Schroder MPF RMB and HKD Fixed Income Portfolio.

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Disclaimer

Investment involves risks and past performance is not indicative of future performance. Investment return may rise as well as fall due to market condition and currency movement which may affect the value of investments. The value of units may vary due to changes in exchange rates between currencies. Emerging markets may involve a higher degree of risk than in developed markets and are usually more sensitive to price movements.
 

You are advised to read the offering document and the relevant marketing materials of Sun Life MPF Master Trust for further details and risk factors prior to making any investment decision.

 

Issued by Sun Life Hong Kong Limited (Incorporated in Bermuda)