MPFA Chairman Welcomes Standard Chartered's Fee Reduction
*********************************************************
*********************************************************
The following is issued on behalf of the Mandatory Provident Fund Schemes Authority:
The Mandatory Provident Fund Schemes Authority (MPFA) Chairman Henry Fan Hung-ling today (November 5) welcomed the initiatives made by Standard Chartered Bank (Hong Kong) Limited to lower fees for all of its MPF funds, which brought benefits to all of its scheme members.
Mr Fan remarked, "Standard Chartered Bank should be complimented for its proactive response to scheme members' needs by reducing fees across the board for its MPF funds."
Mr Fan looks forward to having other MPF trustees to follow suit.
Ends/Monday, November 5, 2007
Issued at HKT 19:55
NNNN
