MPFA response to media enquiries
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The following is issued on behalf of the Monetary Provident Fund Schemes Authority (MPFA):
In response to a media enquiry about fees of MPF funds charged by HSBC, the spokesperson for the MPFA gave the following reply:
MPFA welcomes the initiative made by HSBC to reduce fees of its MPF funds including the Capital Preservation Fund, the Index Tracking Fund, the Balanced Fund and the Stable Growth Fund to benefit its scheme members. MPFA looks forward to having MPF trustees follow suit to lower fees of other types of MPF funds so that more scheme members can benefit.
Ends/Tuesday, October 2, 2007
Issued at HKT 18:08
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