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Client e-Newsletter
- 2023
- 2022
- 2021
New Brand Promotion Campaign - Life’s Brighter Under the Sun
For over 131 years, we have been steadfast in our commitment to help our Clients navigate life’s challenges with lifetime financial security and live healthier lives. We are excited to officially launch a new cross-channel brand promotion, further demonstrating Sun Life's unwavering commitment to the Hong Kong market. We aim to strengthen our leadership position in life and health, wealth and pensions, and asset management, and to establish Sun Life as an influential and sustainable top-tier brand.
Our heartfelt advertisements will captivate the audience, conveying the message that no matter what sort of adversity or challenge we might face, Sun Life will always be there with you, illuminating the lives of every Hong Konger.
Look out for our advertisements across TV, taxi’s, cinema, and social media platforms from October through to the end of December 2023!
Sun Life Hong Kong to launch a new constituent fund
With effect from 29 November 2023, a new constituent fund, namely Sun Life MPF US & Hong Kong Equity Fund, will be established under the Sun Life Rainbow MPF Scheme (“the Scheme”). There will be no impact on the fee structure, investment objective, policy, restrictions, risk profile and dealing arrangement of the existing constituent funds under the Scheme.
For more details, please refer to the latest addendum to the MPF Scheme Brochure of the Scheme.
Introducing the Rebranded Sun Life MPF Mobile App
Our BestServe MPF mobile app is undergoing a transformation and will be renamed the Sun Life MPF in early November. The name change, together with the refreshed look, will make it easier for you to recognize and connect with us.
What's in Store for You in Sun Life MPF Mobile App?
- Effortless MPF Management
Take charge of your MPF account and portfolio at one glance, enabling you to easily modify investment mandate and switch funds according to your needs and preferences.
- Efficient Access to E-Statements
Keep track of your records and transactions with our app by accessing and downloading electronic statements issued over the past 24 months.
- Convenient Instruction Handling
Stay up-to-date anytime and anywhere on the status of your instructions and cancel any submitted instructions before the cut-off time, right at your fingertips.
- Keep Contact Information Updated
Stay connected by easily updating your contact details through our app, ensuring that you receive timely and relevant notifications.
Plan Smartly for a Worry-free and Comfortable Retirement
Have you thought about at what age you plan to retire? What would you like to do in retirement? What do you fear most about retirement?
If you have the same fear as Ada Kung, our Chief Investment Strategist of Sun Life Asset Management, she’ll explain how to leverage the compound interest effect to “accumulate small amounts to create a larger whole” for the future, by an additional $1,000 monthly MPF voluntary contribution. Click to watch the video: https://youtu.be/Q7t-JR-o9jk.
Want to find out how much more you will need to save for retirement? Click here to use our Retirement Savings Calculator: https://sunlife.co/2hdh
This video is voice over in Cantonese with both Chinese and English subtitles.
*Note: The content in the video is only for general information sharing. It is not a form of investment opinion, it is neither an invitation of investment, nor an agreement to make a purchase of any investment product. Sun Life Asset Management (HK) Limited is not responsible for any loss or damage arise from the information or opinion featured in this video and not responsible for the completeness of any information or opinion. 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.
Market Navigator – Q4 2023 By Sun Life Asset Management (HK) Limited
As we enter the last quarter of 2023, our view for overall markets remains neutral and slightly optimistic. In fact, stock markets generally outperform in Q4. From 2002 to 2022, the MSCI World Index registered a quarterly increase in Q4 in 17 out of 20 years, with an average increase of about 3.8%*. Q4 performance have been the best compared with other quarters. As for bonds, investors are expecting a "Higher for Longer" interest rate environment. Taking historical data* as a reference, the federal funds rate typically enters a plateau period before rate cuts. Since 1990, there has been 4 interest rate plateau periods and the Bloomberg Barclays Global Aggregate Investment Grade Bonds Index recorded positive returns in all 4 periods, outperforming global equities. Investment-grade bonds, therefore, may offer opportunities after rate hike cycle ends. However, higher rates for longer may affect investment sentiment. While capturing seasonal opportunities, investors may consider diversifying portfolios with equities and investment-grade bonds for to balance portfolio risks.
To learn the market outlook for the second quarter of 2023 provided by Sun Life Asset Management (HK) Limited, you can access the full version of the Market Navigator – Q4 2023 for more details.
*Source: Bloomberg
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.
Sun Life Hong Kong garnered Sponsor of the Year1 by Benchmark for two consecutive years with its administrator awarded the Best MPF Administration Company of the Year Award2 by Mediazone
After the Intermediary of the Year1 award, Sun Life Hong Kong further garnered the grand award, Sponsor of the Year 1 by Benchmark for two consecutive years! The Benchmark “Sponsor of the Year” 1 award recognizes MPF Sponsors demonstrating excellence in their product designs, fund manager selection, cost structuring and engagement.
In addition, Sun Life MPF’s administrator BestServe Financial Limited is awarded the Best MPF Administrator Company of the Year by Mediazone, presented by Asia’s Most Valuable Companies in Hong Kong 2023 Awards.
Along with continuously enhancing MPF products and services, among all MPF providers, Sun Life MPF ranked no. 1 in the cumulative growth of asset in percentage in the past 10 years, showcasing the leading position of Sun Life MPF in the market.
Please visit our Award webpage to find out more details about the MPF awards received by Sun Life.
1 Source: BENCHMARK MPF Awards 2022.
2 Source: Mediazone Group
3 Source: Gadbury Report – MPF Market Shares and Estimated Net Fund Inflows in the MPF System, Hong Kong (Q1 2013 – Q2 2017) and Mercer MPF Market Shares Report (Q2 2017 – Q1 2023). The cumulative growth in percentage in terms of MPF net asset is calculated by the difference between the MPF net asset market share during Q1 2012 and Q2 2022
Sun Life Hong Kong launches three MPF funds targeting low carbon index as well as US and European stock markets respectively
On 5 June, Sun Life Hong Kong launched three new MPF funds in relation to global low carbon index, US and European equities which will provide MPF investors a wider choice of investment options. The launch of these three investment vehicles underscores Sun Life Hong Kong’s commitment to providing a suite of MPF solutions that cater to Clients’ varying needs and preferences.
Rainbow Pan, General Manager, Wealth & Pensions of Sun Life Hong Kong Limited, said “Given the impact of today’s geopolitical tensions, inflation, and escalating interest rates, fluctuations in both the global economy as well as asset prices are almost impossible to avoid. Due to the difficulties of making profits from a single investment, many MPF investors are seeking to adopt a long-term investment strategy of achieving progress while maintaining stability and diversifying risks. The enriched product portfolio reflects our long-standing principles of sustainable development, responsible investing, and attention to consumer choices, enabling our MPF investors to tailor their retirement plans by allocating funds more flexibly according to their own specific investment goals and risk tolerance.”
Payment method enhancement starting from 3rd July 2023
Starting from 3rd July 2023, we are extending the direct deposit payment method to all local bank account when you request for a claim or withdrawal from your MPF account. Please note that a bank account under the name of a third party or joint bank account will not be accepted.
The enhancement enables direct credit payment transfer in a faster and “MPF go paperless” way. Please refer to the latest claim or withdrawal forms from our website at www.sunlife.com.hk for details.
Market Navigator – Q3 2023 By Sun Life Asset Management (HK) Limited
The US Federal Open Market Committee (FOMC) has paused the pace of increasing the interest rates in June, however, as the banking crisis has not further fermented and inflation remains at high level, the US monetary policy may remain tight and increase the risk of an economic recession. Thus, investors may consider holding a certain percentage of bonds in their portfolios. The Bloomberg Barclays Global Aggregate Investment Grade Bonds Index recorded positive returns in the last four recession periods, with an average return of more than 4.5%*. The data shows that investment-grade bonds could bring opportunities to investors during the economic downturn. As for equities, we expect concerns about recession to be rising, short-term performance of risky assets may be limited, however, with the US economy only experiencing a mild recession, the stock markets will find support after adjustment, so the strategy of accumulating stocks at low prices remains appropriate.
To learn the market outlook for the second quarter of 2023 provided by Sun Life Asset Management (HK) Limited, you can access the full version of the Market Navigator – Q3 2023 for more details.
*Source: Bloomberg
Get to know about the Key Scheme Information Document and MPF Scheme Brochure
The Key Scheme Information Document uses plain language, charts and tables to present and disclose key information (e.g. fund choice, fees, contribution, transfer, withdrawal) of an MPF scheme in a standardized format. Access to other documents containing detailed information of an MPF scheme (e.g. the MPF Scheme Brochure) is provided by web link or QR code.
Information in an MPF Scheme Brochure includes:
- Names of operators (i.e. trustee, custodian, investment manager, auditors or other service providers)
- Contributions, withdrawals and switching procedures
- Investment policies and objectives of each constituent funds
- Valuation of funds
- Guarantee features (if any)
- Fees and charges
- Risk factors affecting fund performance
Source: MPFA
Sun Life Hong Kong has captured 35 MPF Awards including Intermediary of the Year
As the third largest MPF service provider1 in Hong Kong, Sun Life Hong Kong has achieved a total of 35 MPF Awards in 2023 including the Intermediary of the Year2 at BENCHMARK MPF of the Year Awards 2022.
BENCHMARK MPF of the Year Awards 20222
Intermediary Award - Intermediary of the Year2
This is the 4th consecutive year Sun Life Hong Kong received the Benchmark “Intermediary of the Year” award. This 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 at December 31, 2022). MPF refers to Mandatory Provident Fund.
2 Source: BENCHMARK MPF Awards 2022.
Market Navigator – Q2 2023 By Sun Life Asset Management (HK) Limited
The latest dot plot from the US Fed reflected that rate hike cycle is coming to an end , clouds over bond markets faded as we expected. According to Bloomberg data, Bloomberg Global Aggregate Bond Index increased 3%*in the first quarter of year. What we didn't expect was the collapse of banks in US and Europe. Investors tended to risk off and funds poured into safe-haven assets such as Treasuries. We believed as financial markets stabilize, investment-grade corporate bonds would attract investors again. As for equities, we expect outlook to stay unclear as markets continue to be influenced by economic data. And stock market performances are relatively weaker in summer. However, volatile markets offer opportunities to accumulate at low prices.
To learn the market outlook for the second quarter of 2023 provided by Sun Life Asset Management (HK) Limited, you can access the full version of the Market Navigator – Q2 2023 for more details.
* Source: Bloomberg
Launch of Tax-deductible Voluntary Contribution Account Online Application Portal
Sun Life Hong Kong has launched a Tax-deductible Voluntary Contribution (“TVC”) online portal to assist MPF members in opening a TVC account at anytime, anywhere through internet with 4 simple steps. For more details, please visit our TVC webpage at https://www.sunlife.com.hk/en/investments/mpf-and-orso-scheme/tax-deductible-voluntary-contributions/.
TVC is a form of MPF contributions which can help you save money while enjoying tax deduction. The contributions you make to this TVC account (up to an annual limit of HKD60,000) will be counted as a deductible item when you report your taxable income. Depending on your TVC amount, based on the prevailing highest tax rate (i.e. 17%), the maximum tax savings can reach HK$10,200*.
Scheme members can enjoy the flexibility to make TVC to their TVC accounts at any time and in varying amounts. They can also increase or reduce the amount of contributions, or cease to make contributions, or resume the making of contributions at any time, having regard to their personal circumstances.
TVC is designed to fortify your retirement reserves, so it is subject to the preservation requirement applicable to mandatory contributions and can only be withdrawn upon scheme member's reaching age 65 or on other statutory grounds under the MPF legislation.
*This is the maximum tax concession amount in the year of assessment 2021/2022.
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.
Learn about ESG
In recent years, more and more responsible companies have included ESG elements in their corporate policies while investors have expected higher potential returns from companies with outstanding ESG scores. But what is ESG? Investors may be curious as to whether this value-oriented strategy will affect investment returns.
In ESG, “E” stands for the environment, and covers issues such as the effects of climate change, natural resources shortage, environmental pollution, energy efficiency, etc. “S” represents the social aspect, encompassing labour, public health, information safety and related issues. “G” refers to corporate governance which includes factors such as the quality of the board.
Generally speaking, ESG is a tool to analyze sustainability of a company. Unlike traditional financial data, that of ESG reflects factors that are not disclosed in financial reports but are still important when measuring the value of a company. ESG factors can be regarded as intangible assets of responsible company.
To learn more about ESG investment and development trend provided by Sun Life Asset Management (HK) Limited, you can access Macro Observation for more details.
Good MPF Employer Award accepts Applications
The 2022-23 Good MPF Employer Award (the Award), organized by the Mandatory Provident Fund Schemes Authority (MPFA), 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 2,800 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 2023.
Sun Life MPF x YOBE educational video series
To assist Hong Kong working force learning more MPF knowledge, Sun Life MPF has cross-overed with a local illustrator, Yobe, to produce a series of MPF educational video - 積金日常學堂. Please visit Sun Life Hong Kong’s Facebook or YouTube channel, then watch, like and share the videos!
Market Navigator – Q1 2023 By Sun Life Asset Management (HK) Limited
Most asset prices registered decrease in a volatile year of 2022 as pandemic, geopolitical risks and central bank sharp tightening cast shadow over markets. Yearly decline in both stocks and bonds have not been seen for decades. According to Bloomberg data*, there is sharp increase in US interest rates from 0.25% to 4.5% rocked bond market in 2022. Although the markets expect US interest to reach 5%-5.5% in first half of year, such increase was largely reflected and should pose less shock to bond markets. As the rate hike cycle enters mid- to late-phase, and there may even be speculations of rate cut with recession, clouds over bond markets could hopefully fade. Higher yield income also increases attractiveness of bonds in the future.
To learn the market outlook for the first quarter of 2023 provided by Sun Life Asset Management (HK) Limited, you can access the full version of the Market Navigator – Q1 2023 for more details.
* Source: Bloomberg
Go Paperless MPF Program
From 1 December 2022 to 31 March 2023, if you download and register to use BestServe MPF mobile app, provide your updated email address and/or mobile number via the mobile app and opt for receiving regulatory notifications (including the Member Benefit Statement), Sun Life Hong Kong Limited will donate HK$10 on your behalf to The Green Earth, a charitable environmental protection organization to support various types of environment protection and carbon reduction activities and projects.
For more details and terms and conditions, please download the promotion leaflet at https://sunlife.co/8730.
Vote for People’s Choice!
Is your MPF Scheme the People’s Choice? MPF Ratings proudly announces the 5th “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 1 February to 8 February 2023. The voting result will be announced at “The 2023 MPF Awards” to be held on the 2 March 2023.
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.
How to read an Annual Benefit Statement?
The Annual Benefit Statement (ABS) is like a “health check score card” on your MPF investments performance. It provides you the information of the contributions and investments of your MPF account during the past financial period.
If you enroll in an MPF scheme, your trustee will issue at least one ABS to you every year, and it must be issued within three months after the end of the financial period of a scheme.
In general, the ABS should provide you the following information:
- Your personal information, your trustee name and the scheme name, and your member number, etc.
- Summary of account movements during the financial period and fund allocation
- Investment gain/loss since your MPF account was set up
- Account balance during the financial period
- Total contribution made and the amount of fees deducted during the financial period
- Transfer details, including the date of transfer and nature of transfer, etc.
- Total fees charged for contributions and transactions during the financial period
- The periods with contributions and/or surcharges outstanding (if any) during the financial period
- Details of each contribution during the financial period
- The Transaction fees charged by the trustees upon acquisition or redemption of units during the financial period
- The details of unit transaction in each fund held by the account during the financial period
You should read your ABS carefully to understand whether your MPF account is in good shape! In addition, you should also check the fund fact sheet of your MPF scheme regularly to obtain the latest investment performance of the fund(s) you are investing in.
Sun Life MPF has been awarded in the Sing Tao Service Awards 2021
Sun Life MPF has been awarded in the Sing Tao Service Awards 20211 by Sing Tao Daily in the MPF award category. The award was based on various areas such as brand awareness, service quality, brand positioning, reputation, market communication, understanding of customer needs and service support with public voting and the assessment of professional judges, fully reflecting the recognition of the community and the market.
As the third largest MPF service provider in Hong Kong, Sun Life has also been awarded the "Sponsor of the Year Award" and "MPF Intermediary Award of the Year" in "Benchmark"2 for its outstanding investment performance and high-quality services recognized by the industry.
1 Source: Sing Tao Service Awards 2021 - Sing Tao Daily
2 Source: BENCHMARK MPF Awards 2021
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Market Navigator – Q4 2022 By Sun Life Asset Management (HK) Limited
Global equities have been derated this year amid sharp increase in interest rates. Growth sectors such as technology stocks were particularly under pressure. According to Bloomberg data 3, Nasdaq Composite Index, the index reflecting the performance of US tech stocks, dropped 32% in total return terms in the first three quarters of this year. Although corporate earnings are likely to revise downward while central bank constraints under high inflation and low economic growth environment should not be neglected, valuations of many stock markets have fallen to rather low levels. Lower valuations provide more cushions for investors with high cash level to buy gradually for long-term. In addition, as US rate hike cycle enters middle phase, interests offered by fixed income assets show signs of attractiveness. We believe long-term government bonds and investment-grade corporate bonds would benefit first by capital inflow.
To learn the market outlook for the fourth quarter of 2022 provided by Sun Life Asset Management (HK) Limited, you can access the full version of the Market Navigator – Q4 2022 for more details.
3 Source: Bloomberg
Watch & Learn for MPF
Feeling puzzled in managing your MPF? Let’s visit the page “Watch & Learn” to learn about MPF knowledge by watching these three animated videos to understand more about below MPF topics:
- Multi-manager Investment Approach
- Higher flexibility on asset allocation under Multi-manager approach
- Key Reasons for Investment Loss
- Review and find out the reasons behind when you encounter MPF
- MPF Accounts Consolidation
- Save your time by consolidating multiple MPF accounts.
The Revamped Login Page for Online Pension Service Centre Has Been Launched
To further enhance the client experience and online services, Sun Life has completed the enhancement for Online Pension Service Centre - a web portal to assist members managing their MPF accounts more efficiently via internet, putting you in control.
The revamped login page is presented with instruction videos for Online Pension Service Centre and BestServe MPF mobile app to assist you to know more about our digital MPF tools. Other than that, the enhancement also provides value-added services like adding the linkage to download the BestServe MPF mobile app, client e-newsletter and MPF FAQs webpage.
Access Online Pension Services Centre to manage your MPF accounts now.
"Direct Credit” has become one of the MPF contribution payment methods
With effect from 1 October 2022, “Direct Credit” has become one of the MPF contribution payment methods for Sun Life Rainbow MPF Scheme. It allows you to deposit MPF contributions to Trustee’s designated bank account directly by bank transfer or cheque deposit. “Direct Credit” is applicable to Employer Account, Self-employed Person Account and Tax Deductible Voluntary Contribution Account. Apart from “Direct Credit”, you can also make MPF contributions by Direct Debit Authorization or cheque payment by post.
To make MPF contributions via “Direct Credit”, please quote the Member Number and Member Name on the supporting document such as deposit slip or online transaction confirmation print screen and send it to slmpf.ops@bestserve.com or fax to 3183 1889 immediately. Surcharge will be imposed if the Trustee cannot receive i) complete information required in Section 1 of the MPF Contribution Direct Credit Notification, ii) complete Remittance Statement, iii) supporting document and iv) relevant payment by the contribution paid date of the corresponding contribution period stated in Section 1 of the MPF Contribution Direct Credit Notification.
For more details (e.g. required supporting documents) and operation procedures, please visit the “Find a Form” page under www.sunlife.com.hk to download the MPF Contribution Direct Credit Notification or contact the Sun Life Pension Services Hotline at 3183 1888.
Sun Life MPF Viral Video – “Special Research Institution of Hong Kongers”
Have you noticed how ‘distinctive’ Hong Kongers are? We filmed series of video to showcase the uniqueness of Hong Kongers. The videos feature three different age groups of Hong Kongers. No matter which age group you belong to, Sun Life MPF always stands by you, taking care of your every need as we are always your active partner for a better tomorrow.
Please click below links to watch the series of viral videos now!
Video 1 - Small Potato employee
Video 2 - Working woman with strong presence
Video 3 - Hardworking dad
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Market Navigator – Q3 2022 By Sun Life Asset Management (HK) Limited
It feels like a lifetime for investors in this first half of year as the Russia-Ukraine conflict, global tightening of monetary policies and China COVID situation pushed global stocks into bear market territory. Markets are pricing in a recession scenario that stocks suffered selloffs. However, we do not expect the bear markets to last long. It takes time for inflation to peak and for markets to further price in company earnings cut. On the other hand, Hong Kong stocks have been in the bear market territory for over four years. With valuation at multi-year lows and Chinese policy cycle remaining at loosening phase, the hardest time of Hong Kong stocks may have passed. For investors, time is the key to ride through bear markets. Stay patient.
To learn the market outlook of third quarterly of 2022 provided by Sun Life Asset Management (HK) Limited, you can access the full version of the Market Navigator – Q3 2022 for more details.
Sun Life Management Shares the Key of Success for Multiple Industry Awards
More than two years into the COVID-19 pandemic, global investment markets still grapple with heightened volatility. Different industries faced severe challenges, only those with resilience can truly shine in these troubled times.
Riding on overall bright performance and top-notch customer service, Sun Life is the proud winner of multiple prestigious MPF awards. What is the secret to their success? Let’s find out by watching our management interview video now!
Key Scheme Information Document for MPF scheme members
In accordance with the latest requirements under the Code on Disclosure for MPF Investment Funds, the Key Scheme Information Document (the “KSID”) for all MPF schemes are available from 30 June 2022.
The KSID provides with key information about an MPF scheme, which forms part of the offering document. While the KSID could facilitate you to obtain an overview of the key details and features of an MPF scheme, you should not make investment decisions based solely on the KSID. You should also be advised to scan the QR code provided in the KSID to download and refer to relevant MPF Scheme Brochure for details .
Please visit Find a Form page to download the relevant KSID.
The approval of the abolition of the arrangement of using MPF to offset long service payments and severance payments
The Legislative Council (LegCo)’s passage of the Employment and Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Bill 2022 (the Amendment Bill) on 9 June 2022 to abolish the arrangement for employers using the accrued benefits of MPF mandatory contribution made for employees to offset severance payments (SP) / long service payments (LSP) under the Employment Ordinance (“offsetting arrangement”), in order to further enhance the MPF’s retirement protection function. Apart from MPF schemes, the abolition of the offsetting arrangement will also be applicable to occupational retirement schemes under the Occupational Retirement Schemes Ordinance.
Please click here to learn more about this from MPFA press release.
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.
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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.
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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
Best Performer
- Mixed Allocation - Growth Fund (MPF - 1 Year)
- Equity - Hong Kong Fund (MPF - 1 Year)
- Mixed Allocation - Growth Fund (MPF - 5 Years)
- Equity - Hong Kong Fund (MPF - 5 Years)
- Fixed Income - Global Fund (MPF - 5 Years)
- Guaranteed Fund (MPF - 5 Years)
- Mixed Allocation - Growth Fund (MPF - 10 Years)
- Equity - Hong Kong Fund (MPF - 10 Years)
- Fixed Income - Global Fund (MPF - 10 Years)
Outstanding Performer
- Mixed Allocation - Balanced Fund (MPF - 1 Year)
- Equity - Asia Pacific Fund (MPF - 1 Year)
- Equity - Hong Kong Fund (MPF - 1 Year)
- Fixed Income - Global Fund (MPF - 1 Year)
- Mixed Allocation - Balanced Fund (MPF - 5 Years)
- Mixed Allocation - Moderate Allocation Fund (MPF - 5 Years)
- Equity - Hong Kong Fund (MPF - 5 Years)
- Mixed Allocation - Balanced Fund (MPF - 10 Years)
- Mixed Allocation - Moderate Allocation Fund (MPF - 10 Years)
- Equity - Hong Kong Fund (MPF - 10 Years)
Benchmark MPF of the Year Awards 2021
Trustee Awards
- Member Servicing - Outstanding Achiever
Sponsor Awards
- Intermediary Award - Intermediary of the Year
- Intermediary Support Award - Best-in-Class
- Investor Education Award - Best-in-Class
Top MPF Fund Awards
- Hong Kong Equity - Best-in-Class
- Lifestyle - (>20-40% Equity) - Best-in-Class
- Lifestyle - (>40-60% Equity) - Best-in-Class
- Lifestyle - (>60-80% Equity) - Best-in-Class
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.
Try our Investment Risk Assessment now!
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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:
- Both large enterprises and SMEs embrace eServices – nearly 70% of employers in both categories currently handle MPF-related administrative work online
- Most large enterprises and SMEs would encourage (80%) and support (83%) employees to receive MPF-related communications via electronic means, with reduction in time spent handling employee enquiries being the most cited reason
- Awareness of the upcoming eMPF Platform at 28% (SMEs: 27%; large enterprises: 35%)
- Some of the top uncertainties for employers with respect to the upcoming eMPF Platform are: ‘whether there would be adequate customer support when encountering problems’ (69%), ‘whether there would be sufficient network security measures for privacy protection’ (61%) and ‘whether unclear roles and responsibilities between the eMPF Platform company and MPF providers would lead to administrative inefficiencies’ (54%)
For details about the survey result, please visit PSA’s website.
Our MPF & ORSO schemes:
Sun Life MPF Master Trust
- Sun Life MPF Master Trust has been merged into Sun Life Rainbow MPF Scheme from 30 August 2023
Sun Life MPF Basic Scheme
- Sun Life MPF Basic Scheme has been merged into Sun Life Rainbow MPF Scheme from 29 November 2023
Sun Life MPF Comprehensive Scheme
- • Sun Life MPF Comprehensive Scheme has been merged into Sun Life Rainbow MPF Scheme from 29 November 2023
