The Hong Kong Polytechnic University. MPF Member Briefing. September Fidelity Worldwide Investment

Transcription

1 The Hong Kong Polytechnic University MPF Member Briefing Fidelity Worldwide Investment September 2015

2 Fidelity Retirement Master Trust ( FRMT ) Please note: You should consider your own risk tolerance level and financial circumstances before making any investment choices. When, in your selection of funds, you are in doubt as to whether a certain fund is suitable for you (including whether it is consistent with your investment objectives), you should seek financial and/or professional advice and choose the fund(s) most suitable for you taking into account your circumstances. The MPF Conservative Fund under the Fidelity Retirement Master Trust does not guarantee the repayment of capital. You should not invest based on this document alone and should read the Principal Brochure of Fidelity Retirement Master Trust for further information. Fidelity SaveEasy Funds are not savings deposits and involve investment risks and this product may not be suitable for everyone. Investors should also consider factors other than age and review their own investment objectives. 2

3 Contents 1 Fidelity Retirement Master Trust 2 Investment performance 3 Market outlook 4 Fidelity member services 3

4 4 Fidelity Retirement Master Trust

5 Who are involved in your MPF Scheme? HSBC Institutional Trust Services (Asia) Limited Trustee Custodian Administrator FIL Investment Management (Hong Kong) Limited Investment Manager 5

6 Fidelity Retirement Master Trust 16 choices to cater for your risk appetite 6

7 SaveEasy Funds TRANSITION 100% 90% Equity Allocation 80% 70% 60% 50% 40% 30% Getting Started Preparing to Retire 10% 55% Retirement 35% 20% 10% Fund Asset Allocation Equity Bond Cash Accumulating Savings 0% Years to Retirement The Fidelity SaveEasy Funds Asset Rolldown Chart above provides a simple method for investors to view the indicative asset allocation for the various SaveEasy Funds also the shift in the risk/return profile over the duration of the particular SaveEasy Fund.Investors are reminded that this is an indicative rolldown and that any particular given point in the time actual portfolios may at times vary considerably from the shown above as market, political, structural, economic and other conditions change. 7

8 8 Investment performance

9 Calendar year performance FRMT 2010 (%) 2011 (%) 2012 (%) 2013 (%) 2014 (%) Index Tracking Funds Fidelity Hong Kong Tracker Fund * 3.97 Equity Funds Hong Kong Equity Fund Asia Pacific Equity Fund Global Equity Fund Lifecycle Funds Growth Fund Balanced Fund Stable Growth Fund Capital Stable Fund Bond and Money Market Funds Hong Kong Bond Fund World Bond Fund MPF Conservative Fund SaveEasy Funds Fidelity SaveEasy 2040 Fund Fidelity SaveEasy 2035 Fund Fidelity SaveEasy 2030 Fund Fidelity SaveEasy 2025 Fund Fidelity SaveEasy 2020 Fund * Since launch date to the end of launch year Fees and charges of MPF conservative funds can be deducted from either (i) the assets of the fund or (ii) members account by way of unit deduction. MPF Conservative Fund under the Fidelity Retirement Master Trust uses method (i) and, therefore, its unit prices / NAV / fund performance have incorporated the impact of fees and charges. Source: Fidelity Worldwide Investment, net of fees, in HKD 9

10 FRMT performance vs median (as at 31 Aug 2015) Indexing Tracking Funds YTD (%) 3 Months (%) 1 Year (%) 3 Years (% p.a.) 5 Years (% p.a.) Fidelity Hong Kong Tracker Fund Fund Equity Funds 10 Years (% p.a.) Median Hong Kong Equity Fund Fund Median Asia Pacific Equity Fund Fund Median Global Equity Fund Fund Lifecycle Funds Median Growth Fund Fund Median Balanced Fund Fund Median Stable Growth Fund Fund Median Capital Stable Fund Fund Median Blue highlights represent funds that are in line with or outperform median. Source: Morningstar, net of fees, in HKD 10

11 FRMT performance vs median (as at 31 Aug 2015) Bond and Money Markets Funds YTD (%) 3 Months (%) 1 Year (%) 3 Years (% p.a.) 5 Years (% p.a.) Hong Kong Bond Fund Fund Years (% p.a.) Median World Bond Fund Fund Median MPF Conservative Fund * Fund SaveEasy Funds Median Fidelity SaveEasy 2040 Fund Fund Median Fidelity SaveEasy 2035 Fund Fund Median Fidelity SaveEasy 2030 Fund Fund Median Fidelity SaveEasy 2025 Fund Fund Median Fidelity SaveEasy 2020 Fund Fund Median Blue highlights represent funds that are in line with or outperform median; yellow highlights represent funds with no relevant median for comparison purpose. * Fees and charges of MPF conservative funds can be deducted from either (i) the assets of the fund or (ii) members account by way of unit deduction. MPF Conservative Fund under the Fidelity Retirement Master Trust uses method (i) and, therefore, its unit prices / NAV / fund performance have incorporated the impact of fees and charges. Source: Morningstar, net of fees, in HKD 11

12 Fidelity Retirement Master Trust Recognized for outstanding performance ~ ~ MORNINGSTAR BEST MPF SCHEME AWARD* The above awards are for reference only, it is not indicative of the actual performance of the constituent funds. The third party mark appearing in this material is the property of the respective owner and not by Fidelity. ~ The awards only represent MPF Ratings assessment standard (for details, please visit: mpfratings.com.hk/media/award). The results are based on the investment and performance, fees and charges and assessment of administration services of an MPF scheme (with at least 3 years track record) as of 31 Dec * The awards only represent Morningstar s Best MPF Scheme Award Methodology (for details, please visit: awards.morningstar.com). The results are based on the quantitative and qualitative assessment of an MPF scheme as of 31 Dec The quantitative assessment is based on 1-year, 3-year and 5-year risk-adjusted returns of each constituent fund. The qualitative assessment is based on product diversity, transparency and disclosure, and investor experience of each MPF scheme from 1 Jan 2014 to 31 Dec HM Source: Fidelity Worldwide Investment STRICTLY FOR [insert company name] MANAGEMENT INFORMATION ONLY

13 13 Market outlook

14 Where to invest Emerging Markets or Developed Markets? Monetary Policy Divergence Strong USD Weak Oil Price Improving Global Economy 14

15 China More easing measures are needed to turn around the economic slowdown China Manufacturing PMI RMB Depreciation Continuous quantitative easing to stimulate economic growth Source: Markit, latest data point July

16 Asia Slowing external trade High dependency on export to China Weak commodity price Source: Thomson Reuters Datastream, as at Jun

17 US Broadening recovery supported by wage increase while strong USD add uncertainty Unemployment rate fall to the level of 5.3% Companies planning to raise wages Weak commodity prices benefit consumers Source: U.S. Bureau of Economic Analysis, as at July 2015 Source: Thomson Reuters Datastream, as at July

18 Japan Weaker yen should provide a boost Weak yen boosts export competitiveness New corporate governance code increases shareholder focus External trade position Source: Thomson Reuters Datastream, as at May

19 Europe Leading indicators point to a turnaround Accommodative monetary policy Eurozone money growth vs. PMI 12% 50% Weak euro boosts export competitiveness Major European countries are better prepared for a Greek crisis 10% 8% 6% 4% 2% 0% 40% 30% 20% 10% 0% -10% -20% -2% Jan-15 Jan-14 Jan-13 Jan-12 Jan-11 Jan-10 Jan-09 Jan-08 Jan-07 Jan-06 Jan-05 Jan-04 Jan-03 Jan-02 Jan-01 Jan-00 Jan-99-30% EMU M1 %6mom (brought forward by 6m) (LHS) EMU PMI composite %6mom(RHS) (rhs) Sources: JP Morgan May

20 Market outlook (as at Aug 2015) Europe Asia Pacific Japan N. America Hong Kong Positive Neutral Negative Source: Fidelity Worldwide Investment 20

21 21 Fidelity member services

22 Please contact us Fidelity Website Fidelity Investor Hotline (852) hour Interactive Voice Response System Member Service Hotline Centre Monday Friday, 9am to 6pm Saturday,9am to 1pm Fidelity Investor Centre Level 21, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong Monday Friday, 9am to 6pm (by appointment) 22

23 Fidelity mobile website Visit on your smartphone 23

24 24 Appendix

25 Index Tracking Fund 25

26 SaveEasy Funds 26

27 Equity Funds 27

28 Lifecycle Funds 28

29 Lifecycle Funds 29

30 Bond and Money Market Funds 30

31 Important information - FRMT This document has been requested by you and prepared by Fidelity for you in Hong Kong only for informational purposes and may not be reproduced or circulated without written consent from Fidelity. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services. Any person considering an investment should seek independent advice on the suitability or otherwise of the particular investment. Investment involves risks. Past performance is not indicative of future performance. Please refer to the Principal Brochure of Fidelity Retirement Master Trust for further information including the risk factors. Fees and charges of MPF conservative funds can be deducted from either (i) the assets of the fund or (ii) members' account by way of unit deduction. MPF Conservative Fund under the Fidelity Retirement Master Trust uses method (i) and, therefore, its unit prices / NAV / fund performance have incorporated the impact of fees and charges. The On-going Costs Illustrations (for all Constituent Funds of the Master Trust except for the MPF Conservative Fund) that illustrate the on-going costs on contributions to Constituent Funds of the Master Trust and the Illustrative Example (for the MPF Conservative Fund) are distributed with the Principal Brochure. Before making any investment decisions concerning MPF investments, you should ensure that you have the latest version of these documents which can be obtained from the Trustee or the Investment Manager at their addresses stated in the Principal Brochure. Fidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management (Hong Kong) Limited and it has not been reviewed by the Securities and Futures Commission. 31