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MPFA blog - Enhancing transparency of MPF information helps promote market competition and drive fee reductions

Mandatory Provident Fund Schemes Authority (MPFA) Chairman Dr David Wong published his latest blog post today (5 May). He said that the MPFA had been endeavouring to enhance the transparency of Mandatory Provident Fund (MPF) information to promote market competition and create room for fee reductions.

Dr Wong pointed out that the one-stop MPF Fund Platform launched last week enables scheme members to compare the fees and performance of MPF funds. The platform discloses the main components of the fund management fees for the first time, thus enhancing the transparency of fund information and helping scheme members to grasp the required information easily to make informed choices. He mentioned that about 70%, or more than $600 billion of total MPF assets ($893 billion), are transferrable by scheme members. He encouraged scheme members to make good use of the new platform to exercise their rights as consumers to leverage their collective market power to drive fee reductions.

For the full version of the article, please visit the MPFA blog. The blog is in Chinese only.

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5 May 2019

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Last Review Date: 03/05/2019