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The following is issued on behalf of the Mandatory Provident Fund Schemes Authority:
The Mandatory Provident Fund Schemes Authority (MPFA) Chairman Mr Henry Fan Hung-ling today (October 9) welcomed the initiatives made by Fidelity Investments Management (Hong Kong) Limited to lower fees for all of its MPF funds, which brought benefits to all of its scheme members.
"Fidelity should be complimented for its proactive response to society's needs by reducing fees across the board for its MPF funds," Mr Fan said.
"I am delighted that a number of MPF trustees have recently announced or are considering to lower fees of MPF funds. Fidelity's move to lower fees for all of its MPF funds is a good start and I look forward to other MPF trustees following suit."
Ends/Tuesday, October 9, 2007
Issued at HKT 15:16
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