BCT held a media briefing today to announce that it will further lower the MPF management fees of its 11 constituent funds under two schemes, namely "BCT (MPF) Pro Choice" and "BCT (MPF) Industry Choice", including mixed asset funds, bond/money market funds and equity funds. The reductions range from 1.3% to 12.8%, with an average rate of 6%. The new fees will be effective 1 August 2016, benefitting 80%, or 580,000 scheme member accounts.

Managing Director & CEO Ms. Ka Shi Lau also provided details on major business developments, including the rollout of its newly designed interactive website to enhance user experience and help members plan for their retirement investments through upgraded retirement planning tools. The upgraded "Retirement Calculator" generates an individualized "Retirement Wealth Path" that estimates how long their retirement nest egg will last and encourages them to plan early for retirement. It also uses the latest Hong Kong statistics to better represent actual conditions. The new website is designed to adjust automatically to the user's devices, allowing for optimal viewing across various platforms including smartphones, laptops and desktop computers.

In addition, Investment Director Mr. Michael Ha presented views on the global investment outlook for the second half of 2016. He pointed out that after the "Brexit" vote, liquidity will likely flow into developed markets over the short term, with the U.S. benefitting given its better economic prospects. Asian markets are also expected to attract capital inflows, given the compelling valuation and a reduced chance of U.S. rate hikes. In contrast, "Brexit" should cast a shadow over European markets in the short run. In terms of MPF investments, members are advised to adopt a diversified investment strategy. Members may consider adjusting the portfolio to which new contributions are being made, while taking a prudent approach and maintaining that of the existing balance.