MPFA maintains a repository of MPF scheme documents to provide scheme members with easy access to the information of MPF schemes offered by all MPF trustees to facilitate their MPF management and decision making.
What information can be found in the Key Scheme Information Document, MPF Scheme Brochure, fund fact sheet and annual consolidated report?
The Key Scheme Information Document is a document consisting of a limited number of pages, uses plain language, charts and tables to present and disclose key information (e.g. fund choice, management fees, contribution, transfer, withdrawal) of an MPF scheme in a standardized format. Through a layered disclosure approach, the Key Scheme Information Document provides access to other documents containing detailed information of an MPF scheme (e.g. the MPF Scheme Brochure) by web link and/or QR code.
The MPF Scheme Brochure is a document setting out the important information about an MPF scheme. It includes the following important information about the scheme for members to make informed decisions.
- names of operators (e.g. trustee, custodian, investment manager, auditors and other service providers)
- investment policies and objectives (including the investment focus) of each fund
- guarantee features of guaranteed funds (if any)
- risk factors affecting fund performance
- contributions, withdrawals and transfer, and fund switching procedures
- valuation of funds
- fees and charges
How to access the investment focus of each fund
The information can be accessed by clicking the “Investment Focus” icon under Key Scheme Information Document in the List of Registered MPF Schemes & Funds
In a Key Scheme Information Document, the key features of each fund will be shown in a standardized table, providing members with a clear overview. The table will set out information such as the name of the fund, the name of the investment manager, fund descriptor and investment focus, e.g. the type of assets invested in and its weightings.
- fund size (net asset value)
- launch date
- fund descriptor
- investment policies and objectives of the fund
- summary of portfolio allocation and top 10 portfolio holdings
- fund performance
- performance benchmark (if any)
- fund expense ratio
- fund risk indicator
- risk class
- commentary on fund performance
When will the fund fact sheet be available in this repository?
MPF trustees issue at least two fund fact sheets every year reporting the above information. The two reporting dates are:
- at the end of the financial period of the relevant scheme
- at the end of the next six-month period
Some trustees may provide more frequent reporting to scheme members (e.g. quarterly fund fact sheets) and make them available on their websites. The latest fund fact sheets provided by trustees are made available in this repository.
Financial statements of an MPF scheme and its funds
- Assets and liabilities
- Itemized fees and charges
Investment report of an MPF scheme and its funds
- Investment policies and objectives of individual funds
- Investment portfolios of the MPF scheme and its individual funds
- Performance of individual funds
- Trustee’s commentary on the analysis of investments held by the MPF scheme
- Financial development of the scheme
- Particulars of the directors of the trustee, including particulars of their appointment or termination
- Auditor’s confirmation of the financial statements being audited
Regarding trustee’s commentary on the analysis of investments, trustees may provide:
- relevant information on individual funds
- illustration of the fund performance assessment framework
How to access trustee’s commentary?
To access trustee’s commentary, please click on the ”Trustee’s Commentary on Fund Performance” icon under “Annual Consolidated Report” in the List of Registered MPF Schemes & Funds
When choosing from different MPF schemes and funds, members should read the annual consolidated reports carefully and consider every factor (including but not limited to the areas mentioned above) so as to make the most appropriate choices for their situation.
When will the annual consolidated report be available in this repository?
The annual consolidated report of each MPF scheme for the latest financial year* is available in this repository six months after the financial year end of the scheme.
*Different schemes may have different financial periods, which end on different dates.
Governance reports are prepared by MPF trustees for each financial period of MPF schemes under their trusteeship. An annual governance report consists of the following reporting areas:
- A description of MPF trustee’s governance framework
- A description of MPF trustee’s assessment and resulting actions/changes in relation to:
- Value for money assessment;
- Sustainable investing strategy and implementation progress; and
- Other governance matters assessed by MPF trustee
- Value for money assessment;
How to access governance report?
To access governance reports, please click on the “Governance report” icon under “Annual Consolidated Report & Governance Report” in the List of Registered MPF Schemes & Funds
The information disclosed in the governance reports of MPF schemes helps scheme members get a better understanding of how the trustees have strived to bring better value for their scheme members and what have been done to achieve that by the MPF trustees during the past financial year.
When will the annual governance report be available in this repository?
The annual governance report of each MPF scheme for the latest financial year* is available in this repository six months after the financial year end of the scheme.