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Hong Kong’s new MPF fund provider to offer stable income

The BCT Asian Income Retirement Fund launched this week aims to become Hong Kong's first MPF fund that offers a stable income and protects against inflation. The Mandatory Provident Fund provider will seek an expected total return of 2% above the concurrent Hong Kong Consumer Price Index and will distribute dividends on a monthly basis starting from the seventh month. The fund is mostly fixed income, with at least 70% of its net asset value invested in Asian investment-grade USD-denominated bonds with not more than 30% in Hong Kong and China-related stocks. It is a low-to-medium risk fund and the management fee will be up to 1.288% per annum. A privileged fee of 0.99% will be offered to members aged 65 or above by way of quarterly bonus unit rebate.

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