Compliance Standards for approved MPF trustees

The MPFA seeks to promote good corporate governance, proper risk management and a positive compliance culture among the trustees. To this end, the MPFA has released a set of Compliance Standards to assist the trustees in establishing a rigorous framework for monitoring their compliance with statutory duties and responsibilities under the MPF System.

The Compliance Standards were released in July 2005, and developed with the help of international consultants to reflect internationally recognized compliance methodology. There are a total of eight Standards, each accompanied by detailed explanatory notes and examples to provide further guidance to the trustees.

Performance Presentation Standards

The MPFA has formally recognized the 2nd edition of the industry Performance Presentation Standards submitted jointly by the Hong Kong Trustees Association and the Hong Kong Investment Funds Association on 9 March 2007 for the purposes of the Code on Disclosure for MPF Investment Funds (Disclosure Code).  The 2nd edition of the Standards came into effect on 23 April 2007.  Fund fact sheets sent by the trustees on or after that date must comply with the requirements of the Standards.

The Standards were developed to help clarify and specify the methods the trustees should use in preparing, calculating and presenting the information required as minimum content in a fund fact sheet. It covers important data on fund performance, fund risk indicators and fund descriptors as set out in D2.3 (f), (i) and (j) of the Disclosure Code.