21st February 2024
Fund ranked amongst 2023’s top 10% of most popular MPF funds
Key points are as follows:
- Sun Life wins MPF’s Best New Innovation Award for its outstanding ESG commitment culminating in the launch of the Sun Life MPF Global Low Carbon Index Fund (“the Fund”).
- Sun Life’s achievement will be officially recognised at the 2024 edition of “The MPF Awards”, the MPF industry’s annual awards event.
- According to MPF Ratings, the Fund’s objectives are uniquely consistent with MPFA issued principles (“the Principles”) that assist MPF trustees integrate ESG factors into the investment and risk management of MPF funds.
- Compliance with the Principles is high and the responsibility of investment managers and MPF trustees.
- Demand for ESG investment opportunities is very high with MPF’s ESG assets growing over 700% over the past 5 years to December 2023.
Francis Chung (叢川普), Chairman of MPF Ratings Ltd, Hong Kong’s independent provider of MPF pension research, views and education today announced Sun Life as MPF’s 2024 Best New Innovation winner for its outstanding commitment to sustainable and ESG investing culminating in the launch of the Sun Life MPF Global Low Carbon Index Fund (“the Fund”). Sun Life will officially receive its accolade at the MPF industry’s awards event, The MPF Awards, which will be held on the 28th of February.
Quotes:
Strong fund outperformance and ESG net inflows
“Since its June 2023 launch, the Fund has achieved a current return of 7.66%, compared to the MPF Industry return of only 1.08%, 6.58% higher than the MPF industry (as measured by the MPFR All Fund Performance Index). The Fund is also ranked amongst the top 10% of most popular funds[1], attracting an estimated $715m in net inflows despite only being available for just over six months.”
Sun Life established new standards for ESG measurement in the MPF industry
“The Fund uniquely fulfils MPFA sustainable investing ambitions and establishes new standards for MPF’s ESG measurement. To promote better performance the MPFA are actively advocating for explicit sustainable investing measurables and benchmark. The Sun Life MPF Global Low Carbon Index Fund invests against an index targeting companies with 50% reductions in carbon emissions and fossil fuel reserve intensities and 20% uplift in ESG ratings, while excluding companies in sensitive business areas.”
Why Sun Life has been awarded MPF’s Best New Innovation Winner?
“ESG assets having grown by 700% over the past five years. If its popularity continues, it will place ESG funds’ investment objectives under greater scrutiny. The Sun Life Global Low Carbon Index Fund is setting standards for defining and establishing MPF’s ESG benchmarks measurables and for this reason Sun Life has been named MPF’s Best New Innovation winner for 2024.”
[1] Among 379 MPF constituent funds as at 31st December 2023
