12 February 2020
And sees Manulife Global Select (MPF) Scheme as on track for 25% market share.
MPF Ratings, a leading independent Mandatory Provident Fund (MPF) research group, today announced Manulife’s Global Select (MPF) Scheme had achieved an inaugural Gold rating. Gold is MPF Ratings’ highest rating and is only awarded to MPF schemes demonstrating the best relative value for money for members across a number of criteria not simply performance and fees.
According to Francis Chung (叢川普), Chairman of MPF Ratings, Manulife’s hard work has not only seen its ratings upgrade, but has also translated to business success. “Manulife’s Global Select (MPF) Scheme is now the largest MPF scheme in market and is on track for approximately one quarter MPF market share as the MPF industry approaches HK$1 trillion,” Chung said, pointing to the latest findings of the MPF Ratings Fund Flow and Market Share Report.*
Ellen Leung (梁少媚), Chief Executive Officer of Manulife Provident Funds Trust Company Limited, was delighted with Manulife’s Gold rating, stating: “From launching digital apps to improved investment performance, being Gold rated validates Manulife’s ability to deliver value for money to our members. We are pleased that Manulife’s efforts are widely recognized in the market.”
External factors have created market uncertainty, however, in such an environment. The view of MPF Ratings is that Manulife’s position as the largest MPF scheme sponsor may actually prove to be positive for all MPF members, with Mr Chung saying, “If other MPF schemes wish to remain competitive, Manulife’s Gold rating may inspire them to improve the value of their MPF offering.”
*MPF Ratings Fund Flow and Market Share Report as at December 31, 2019