Investment Views from Managers
                                                               
                                                               

                                                              BCT (MPF) Pro Choice Information Kit (Personal Account)

                                                              BCT (MPF) Pro Choice Information Kit (Personal Account):

                                                              • MPF Scheme Brochure : BCT (MPF) Pro Choice
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                                                              Product Summary
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                                                              Company Leaflet
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                                                              Personal Account Leaflet
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                                                              Application Form – Personal Account Member
                                                                (Master Trust Scheme – BCT (MPF) Pro Choice) [AP(PM)-MT]
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                                                              Request for Fund Transfer Form
                                                                (For self-employed person, personal account holder or employee ceasing employment)  
                                                                and Statement of Authentication [RFT(MEM)]
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                                                              Employee Choice Arrangement ("ECA") –
                                                                 Transfer Election Form and Statement of Authentication [MPF(S)-P(P)]
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                                                              >• Scheme Member’s Request for Account Consolidation Form
                                                                (For Consolidating Multiple Personal Accounts into One Account) [MPF(S)-P(C)]
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                                                              Quarterly Perspectives
                                                              Apr 2021
                                                              Quarterly Perspectives
                                                              Quarterly Perspectives

                                                              This quarter's themes

                                                              1. Building resilience against higher bond yields and inflation worries
                                                              2. Let a thousand equity flowers blossom
                                                              3. Fixed income: Managing inflation risk
                                                              4. Integrating ESG in portfolio construction
                                                              Source:
                                                              Apr 2021
                                                              Market Snapshot
                                                              Market Snapshot

                                                              United States

                                                              • US equities rallied, with the broad-based S&P 500 Index closing the quarter at a new record high. US stocks ratcheted steadily higher until mid-February, helped by a swift recovery in corporate earnings, signs of an easing in COVID-19 infections and the promise of a massive fiscal stimulus...
                                                              Source:
                                                              Market Snapshot
                                                              Market Review
                                                              Apr 2021
                                                              Market Review
                                                              Market Review
                                                              • The conservative GDP growth targets indicate more restrained monetary and fiscal policies are coming in 2021, this contrasts with the easing policy dynamic in other markets.
                                                              • Policymakers have further put a recent focus on reining in debt and combating a potential bubble in the investment and property markets.
                                                              Source:
                                                              Mar 2021
                                                              Key investment themes to watch for in Q2 2021
                                                              Key investment themes to watch for in Q2 2021

                                                              Since the start of the year, over 550 million doses of vaccines have been administered globally, raising hopes that major economies will soon return to normal levels of activity.

                                                              Source:
                                                              Key investment themes to watch for in Q2 2021
                                                              Markets review
                                                              Apr 2021
                                                              Markets review
                                                              Markets review

                                                              Highlights:

                                                              • Global equities advanced in Q1, supported by the roll-out of Covid-19 vaccines and news of further US fiscal stimulus. Lowly-valued parts of the market fared well, as did smaller companies.
                                                              • Government bond yields rose (meaning prices fell). Corporate bonds outperformed government bonds.
                                                              • Commodities gained with the energy component boosted by stronger demand.
                                                              Source:
                                                              Mar 2021
                                                              High Yield in View: Automobiles and Semiconductors
                                                              High Yield in View: Automobiles and Semiconductors

                                                              COVID-19 caused ripple effects throughout many industries and sectors, including automobiles. An already-challenging lockdown environment that forced vehicle production shutdowns also saw shortages of parts—namely semiconductors—which continue to linger. Franklin Templeton Fixed Income Analyst Aleck Beach outlines the implications for investors.

                                                              Source:
                                                              High Yield in View: Automobiles and Semiconductors

                                                              Some of the information contained herein including any expression of opinion or forecast has been obtained from or is based on sources believed by us to be reliable, but is not guaranteed and we do not warrant the adequacy, accuracy, reliability or completeness of such information obtained from or based on external sources. The information is given on the understanding that independent investment advice should be sought when making investment decisions; that it will not be relied on in the making of investment decision and that any person who acts upon it or otherwise changes his or her position in reliance thereon does so entirely at his or her own risk. This is not an offer to buy or sell or a solicitation or incitement of offer to buy or sell any securities referred to herein, save for BCT (MPF) Pro Choice, BCT (MPF) Industry Choice, BCT Premier Pooled ORSO Retirement Plan and their underlying constituent funds. It should also be appreciated that under certain circumstances the redemption of units/shares may be suspended. Investment involves, in particular, risks associated with investment in emerging and less developed markets. Please refer to the relevant prospectus for details. Past performance is not indicative of future performance.

                                                              Information contains on this webpage is for reference only. The views and opinions as expressed therein may vary as the market changes.