29th February 2024
Banking giant regains MPF edge after years of underperformance and market share losses
Key points are as follows:
- Independent focus on Value-for-Money makes The MPF Awards, “MPF Scheme of the Year” MPF’s most sought after title.
- The MPF Awards is hosted by MPF Ratings Ltd, MPF’s independent provider of MPF research, views and education on behalf of the MPF Industry.
- HSBC MPF – SuperTrust Plus crowned the 2024 “MPF Scheme of the Year” at the 12th edition of “The MPF Awards”.
- Owing to the MPFA’s mandatory Governance Reporting announced in August 2022, Value-for-Money is now MPF’s key success and reporting metric.
- The 2024 edition of “The MPF Awards” winner’s list.
- MPF total asset size as at 31st January is approximately $1.12tr, representing an average account balance of $239,000 per 4.69m members.
HSBC MPF – SuperTrust Plus was today announced as MPF’s Scheme of the Year at 2024 edition of The MPF Awards, the MPF industry’s annual awards evening which is hosted by MPF Ratings, MPF’s independent provider of MPF research, views and education.
According to MPF Ratings’ Chairman, Mr Francis Chung (叢川普), “MPF Scheme of the Year” is MPF’s most coveted title owing to its Value-for-Money focus which is now the MPF industry’s benchmark for success and reporting due to the mandatory reporting requirements outlined in the MPFA’s August 2022 “Initiative to Enhance Transparency of Governance Reporting of MPF Schemes” circular. MPF scheme trustees are now required to publicly disclose their scheme’s overall Value-for-Money. Under the Value-for-Money metric which looks at a variety of assessment areas not just performance and fees HSBC’s MPF SuperTrust Plus was the MPF Scheme of the Year winner for a 2nd consecutive year.
Quote(s):
Why MPF has moved away from low fees to Value-for-Money as MPF’s key metric
“The MPFA now mandates all MPF schemes to define their Value-for-Money. MPF members expect competitive fees, good performance and a high quality MPF experience. The combination of all three is what Value-for-Money is. It’s more than just low fees.”
Why was HSBC MPF – SuperTrust Plus crowned the 2024 MPF Scheme of the Year
“Strong invest performance, competitive fees, excellent corporate governance and a commitment to environmental and social responsibility made the HSBC MPF – SuperTrust Plus a deserved winner of 2024’s MPF Scheme of the Year.”
