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Sun Life has captured 42 MPF Awards including Sponsor of the Year and Intermediary of the Year
As the third largest MPF service provider in Hong Kong¹, Sun Life has achieved a total of 42 MPF Awards recently including the Sponsor of the Year2 and Intermediary of the Year2 at BENCHMARK MPF of the Year Awards 2021.
BENCHMARK MPF of the Year Awards 20212
Grand Award – Sponsor of the Year2
The Benchmark "Sponsor of the Year" award recognizes MPF Sponsors who have demonstrated excellence in their product designs, fund manager selection, cost structuring, and engagement.
Intermediary Award – Intermediary of the Year2
The Benchmark "Intermediary of the Year" award recognizes MPF intermediaries that excel product knowledge, technology application, relationship building and marketing techniques better than others in the industry.
Please visit our Award webpage to find out more details about the MPF awards received by Sun Life.
1 Based on assets under management. Source: Mercer MPF Market Shares Report (as of December 31, 2021). MPF refers to Mandatory Provident Fund.
2 Source: BENCHMARK MPF Awards 2021.
Market Navigator – Q2 2022 By Sun Life Asset Management (HK) Limited
The Russia-Ukraine conflict has brought jitters to asset prices across a broad spectrum, from equity to fixed income, and from currency to commodity markets. While some markets have since stabilized to a certain extent, this geopolitical event, which is still ongoing as of writing, could have much farther and wider ramifications. The de-globalization movement, which began taking sharp in 2018 when US and China were at loggerhead on trade-related matters, is poised to exacerbate with European and other Western nations determined to reduce reliance on Russia for their energy and other natural resources needs. De-globalization in turn would lead to higher prices and costs while at the same time moderating global economic growth. Investors may need to adjust their portfolios as well as expectations on future investment gains in the coming new world order.
To learn the market outlook of first quarterly of 2022 provided by Sun Life Asset Management (HK) Limited, you can access the full version of the Market Navigator – Q2 2022 for more details.
Newly Launched “MPF FAQs” page and enhancement of Website Widget “Sunny”
To improve overall client’s experience, the MPF Frequently Asked Questions (“MPF FAQs”) webpage has been launched together with the enhancement of website widget “Sunny.
Please visit the MPF FAQs webpage to find out the answers in a hassle-free way when facing problem in managing your MPF account(s).
The enhanced “Sunny” is now also able to guide clients to acquire MPF information on Sun Life website.
Digitalizing your MPF journey
With our digital tools like Online Pension Service Centre and MPF Mobile App, both employer and employee clients are able to enjoy a convenient digital experience throughout their MPF journey.
To learn more about out digital tools, please visit our dedicated webpage “Digitalizing your MPF journey ” for more information.
Good MPF Employer Award accepts applications
The 2021-22 Good MPF Employer Award (the “Award”), organized by the Mandatory Provident Fund Schemes Authority, is now open for applications and nominations.
The Award aims to promote and foster employer compliance with MPF legislation; encourage employers to provide better retirement benefits for their employees; and recognise employers who are exemplary in enhancing the retirement benefits of their employees. Nearly 2,500 companies and organizations have been honoured as “Good MPF Employers” since its debut in 2015.
Eligible employers should act now and apply for the Award. Employees are also welcome to nominate their employers for the Award. For more details, please visit the Good MPF Employer Award website. The deadline is 30 June 2022.
You Are Participating In An Award-winning MPF Scheme
Sun Life, as the 3rd largest MPF service provider in Hong Kong has captured 38 MPF Awards including MPF Scheme of the Year 2021 and MPF Brand of the Year Award.
MPF Ratings’ – MPF Scheme of the Year 2021
MPF Scheme of the Year finalists and the winner are assessed as the most well diversified MPF schemes across all key criteria assessed by MPF Ratings; investment performance, fees and charges, as well as an assessment of overall services within the schemes.
2020 BENCHMARK MPF of the Year Awards
Grand Award – MPF Brand of the Year
The MPF Brand of the Year Award recognizes an MPF Provider whose brand strategy best demonstrates the ability to connect with the public and increase their perceived brand trustworthiness and admiration.
You can access our MPF Award Flyer to find more details about the MPF awards received by Sun Life, including the criteria and judging methodologies.
Market Navigator – Q4 2021 By Sun Life Asset Management (HK) Limited
Catching the Tailwind of “Economic Reflation 2.0”
Global markets had been caught in a quagmire in the third quarter due to a spate of economic challenges and policy uncertainty. Soaring commodity prices, supply and logistic bottlenecks have pushed up inflation and prompted central banks to rein in ultra-loose monetary policy. Rebound in daily confirmed COVID-19 cases forced some countries to reinstate social distance requirements leading to acute shortfall in labours, which in turn further worsen the global supply chain. As the world enters the winter months, we should not forget that spring will soon follow. More and more countries are adopting a coexist (with the virus) mindset and pushing for higher vaccination rates to enable reopening to overseas visitors. Latest development in an oral medication could turn a new page to treating the infected. Rapidly depleting inventories mean ever stronger need for restocking down the road. Instead of focusing on short-term snags, investors should set eyes for the coming upturn in what we labelled “Economic Reflation 2.0”.
To learn the market outlook of 4th quarterly of 2021 provided by Sun Life Asset Management (HK) Limited, you can access the full version of the Market Navigator – Q4 2021 for more details.
Inclusion Of A Shares To Keep Abreast Of Time
MPF system has been launched for 21 years. During this period, financial markets have undergone tremendous changes. The China market, for example, has gradually opened up and internationalized to become a market that cannot be ignored. Last year, MPFA announced to include Shanghai Stock Exchange and Shenzhen Stock Exchange as approved stock exchanges. This was a move to keep abreast of time.
In order to protect assets of MPF scheme members, all funds within MPF scheme are subject to investment restrictions designed to avoid excessive and unnecessary risks to the investment portfolio. For currency exposure at least 30% of investment portfolio must be denominated in Hong Kong dollars or have been hedged in Hong Kong dollars. In terms of stocks, not all stock exchanges are approved. Regulations stipulate that the proportion of MPF fund assets investing in non-approved stock exchanges cannot exceed a 10% upper limit of a fund’s net asset value. In the past, China’s A-share market was highly restrictive. Foreign investors could only gain access to the market through a number of programs with quotas (such as Qualified Foreign Institutional Investors, or QFII), which have great limitations. Therefore China’s exchange bourses were not included in the list of approved stock exchanges. However, since the introduction of “Shanghai-Hong Kong Stock Connect” and “Shenzhen-Hong Kong Stock Connect” and subsequent relaxation of daily quotas, costs of accessing the Chinese onshore market have significantly lowered. Therefore, the condition to relax restriction on MPF investment in A-shares is met.
By relaxing the restriction of A-share investment, investment managers would have greater flexibility in striving for better returns as well as diversify risks into different sectors. As of end of October 2020, Shanghai and Shenzhen stock exchanges encompass about 4,100 listed companies worth nearly $9.4 trillion in market-capitalization. Average daily trading volume is very large, providing foreign investors with opportunities that are not often presented in China’s offshore market. As there are still a log of inefficiencies in stock markets in China, investors can strive for higher excess returns through price discovery process. In addition, China’s A-share companies offer foreign investors opportunities not commonly found in the offshore Chinese equity market as it is home to “new economy” companies. These companies are usually more innovative than state-owned enterprises which are typically listed offshore. The addition, A-shares can diversify the risk of excessive concentration in the “old economy” industries in offshore market.
In fact, as MSCI added China A-shares into its emerging market indices for the first time in 2018, the importance of China market in global stock indexes has increased. China’s A-shares accounted for 12% of the MSCI China Index, which means that if the Shanghai Stock Exchange and Shenzhen Stock Exchange remain as non-approved stock exchanges, the performance of the MPF China fund category would deviate quite largely with a widely recognized benchmark index.
We expect that the MPF China equity fund category and MPF Greater China equity fund category would gradually see higher investment in China A shares. This may be a challenge for some MPF fund managers. After all, the market style and sectors of A-share markets are quite unique, not to mention that the market is also highly volatile. Fund managers will need to beef up resources to conduct analysis and research. Investors should pay close attention to changes in the performances of these two categories.
A Tool You Needed For Retirement Planning
When you plan for retirement, you need to consider various factors, such as pre/post-retirement income levels, investment/saving amounts, retirement expenses, returns and inflation rates, etc., then identify the gap between your retirement goals and retirement savings.
Our Retirement Savings Calculator assists you to identify the disparity between the retirement goals and the retirement savings based on the financial circumstances provided by you. In addition, you can obtain the amount of regular investment/saving for eliminating the gap. You can also modify your retirement plan by adjusting the regular investment/saving amount, the retirement age or the expected retirement expenses. The printing feature allows you print a copy of the calculation results for reference and review in the future.
Try our Retirement Savings Calculator now!
How To Read A Fund Fact Sheet?
According to the Code on Disclosure for MPF Investment Funds (the “Code on Disclosure”) issued by the Authority, approved trustees are required to provide a fund fact sheet with the various information about the constituent funds within the scheme at least twice per calendar year. Do you know what information has been included in a fund fact sheet?
As set out in the Code on Disclosure, a fund fact sheet is required to meet the following minimum content requirements:
(a) Fund size – the net asset value (“NAV”) of each of the constituent funds under the scheme as the reporting date of the fund fact sheet
(b) Launch date – the launch date of each constituent fund
(c) Investment objectives – a brief description of the investment objectives of each constituent fund
(d) Portfolio allocation – for each constituent fund, the allocation of assets as at the reporting date of the fund fact sheet
Top 10 holdings – the largest ten asset holdings of each constituent fund as a percentage of fund NAV as at the reporting date of the fund fact sheet or as at the last fund valuation date (a) prior to the reporting date of the fund fact sheet (Note: For a portfolio management fund, the largest holdings should be listed in accordance with the attributed exposures of the constituent fund to the underlying assets of the underlying funds
(b) Fund performance – for each constituent fund, the periodic rate of return for the fund over the periods of 1, 5, 10 years and since launch
(c) Performance measurement against any benckmark used – for each constituent fund a comparison of the fund performance against the benchmark, if any, identified in the MPF Scheme Brochure of a scheme
(d) Latest FER – the latest available Fund Expenses Ratio (“FER”) for each class of units of each constituent fund as at the reporting date of the fund fact sheet (Note: It is not necessary to show a FER for a constituent fund where the period between the reporting date of the fund fact sheet and the inception date for the fund is less than 2 years)
(e) Appropriate fund risk indicator – a general indication about the level of risk of each constituent fund in manner that assists members in accessing the level of risks consistently across funds in the scheme
(f) Fund descriptor – for each constituent fund, a description of the fund type in a manner that will facilitate comparison with other similar funds
(g) Risk class – the risk class o each constituent fund as at the reporting date and a brief description of the classification methodology
(h) Commentary – a discussion of fund performance, market review and market outlook in relation to each constituent fund
For Sun Life Rainbow MPF Scheme, on top of the above minimum contents, our fund fact sheet also provides the following fund information:
(i) Market review – a review of different investment markets for the reporting period of the fund fact sheet
(j) Market forecast – the Sun Life Asset Management (HK) Limited forecasts a 1 year outlook with respect to the relevant investment market(s) (Note: The market forecast is not the forecast of the fund performance of each constituent fund and neither the indicative of future performance
(k) Dollar Cost Averaging Return – the Dollar Cost Averaging Return is a return calculated by the practice of investing a consistent dollar amount in the same investment over a period of time
You can click here to obtain the latest available fund fact sheet.
Sun Life has been awarded multiple accolades
In the forth quarter of 2021, Sun Life Hong Kong (“Sun Life”) was recognised by multiple industry awards including Bloomberg Businessweek (Chinese Edition) Top Fund Awards 2021 Hong Kong and Benchmark MPF of the Year Awards 2021 given the bright fund performance and excellent services provided to clients
Bloomberg Businessweek (Chinese Edition) Top Fund Awards 2021
Benchmark MPF of the Year Awards 2021
Top MPF Fund Awards
More, Sun Life Hong Kong’s wholly owned pension administration centre -BestServe Financial Limited, has once again been recognized in the Hong Kong Call Centre Association Awards, and won the Mystery Caller Assessment – Gold Award (Finance and Insurance) for the twelve consecutive years. We have been making earnest efforts to enhance our MPF services by improving member communication and service efficiency aiming at delivering “Peace-of-mind“ service solutions to our members. This award is a great recognition and encouragement to us.
Please visit our Award webpage to find more details about the MPF awards received by Sun Life.
Market Navigator – Q1 2022 By Sun Life Asset Management (HK) Limited
During Monetary Normalization Investors Should be More Discerning
The US Federal Reserve and various central banks around the world are ending an extended period of ultra-loose monetary policy. During the forthcoming normalization, reversal of bond purchases and higher interest rates would lead to costlier and tighter liquidity. Companies that had been borrowing heavily to finance unprofitable businesses might be dealt a rude awakening as investors turn more impatient. On the other hand, established companies with robust business models, solid balance sheets and strong cash flow generating ability could be in favor. In the short term, we could see a jump in volatility as investors adjust to the new market backdrop. With the world economy growing steadily, overall markets should be supportive though investors need to be more discerning in where to place their wager.
To learn the market outlook of first quarterly of 2022 provided by Sun Life Asset Management (HK) Limited, you can access the full version of the Market Navigator – Q1 2022 for more details.
Before building your plan on retirement investments, identify the level of risk you're willing to take
How much investment risk are you willing to take?
We understand you may have different retirement goals. In addition, you may need to change your MPF investment strategy at different stages of life. To assist you making the most suitable MPF investment decision, we developed the online tool of “Investment Risk Assessment”.
By taking a few minutes to answer simple questions, members can understand their investment risk appetite through “Investment Risk Assessment” and look for suitable investment approaches.
Vote for the People’s Choice!
Is your MPF Scheme the People’s Choice? MPF Ratings proudly announces the 4th “People’s Choice” award. “People’s Choice” award is awarded to the most popular MPF Scheme as voted by the Hong Kong public.
Vote our MPF scheme as the “People’s Choice” simply by clicking here from 7 to 14 February 2022. The voting result will be announced at “The 2022 MPF Awards” to be held on the 3 March 2022.
The People’s Choice award was introduced, for the first time, by MPF Ratings in 2019 and aims to engage the members of the public to raise greater awareness of the importance of MPF. The award measures a number of customer satisfaction criteria and is given to the MPF Scheme Provider that measures highest across those criteria while considering the number of respondents to the survey.
Survey on the eMPF Platform by Pension Schemes Association
Pension Schemes Association (“PSA”) , which was established by six founding partners including Sun Life, previously announced the findings of a survey on the eMPF Platform project. The survey was designed to understand the views and needs of employers with respect to the upcoming eMPF Platform, online services, and digital adoption.
The eMPF study was conducted by CIMIGO between July and August 2021. It interviewed a total of 511 respondents, 350 from SMEs and 161 from large enterprises to gather initial feedback on awareness, perceptions, and expectations of the upcoming eMPF Platform from Business owners, Executives, and Managers involved in the selection of or daily contact with MPF service providers, and to understand their MPF management habits and reasons for adopting or not adopting digital tools.
Highlights of the key findings are as follows:
For details about the survey result, please visit PSA’s website.