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The following is issued on behalf of the Mandatory Provident Fund Schemes Authority:
The Chairman of Mandatory Provident Fund Schemes Authority Mr Henry Fan Hung-ling today (January 10) welcomed the launch of a new MPF product by HSBC. Mr Fan said that the new scheme helps meet the needs of scheme members as it is simple and has a low management fee.
He was pleased with the low management fees of 1.25% and said the simple structure will assist scheme members, particularly the less sophisticated ones and those with limited time, in managing their MPF investment.
Mr Fan looks forward to having more funds with simple structure and low management fee being offered in the market to better meet the needs of all MPF scheme members.
Ends/Thursday, January 10, 2008
Issued at HKT 18:51
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