OREANDA-NEWS. November 06, 2012. Bank of East Asia (Trustees) Limited (“BEA Trustees”), a wholly-owned subsidiary of The Bank of East Asia (“BEA”), announces that it will launch a new master trust scheme called the BEA (MPF) Value Scheme (the “Value Scheme”) on 25th October 2012, to capture transferable MPF assets under the Employee Choice Arrangement (“ECA”), reported the press-centre of BEA.

The Value Scheme comprises 10 constituent funds, which cover a wide range of investment options (including a money market fund, bond fund, mixed assets funds, and equity funds) with current management fees ranging from 0.60% to 0.99% per annum of the net asset value.

Since December 2000, BEA Trustees has offered comprehensive MPF services to customers through the BEA (MPF) Master Trust Scheme and the BEA (MPF) Industry Scheme. With the introduction of the Value Scheme, BEA Trustees will offer customers an even wider range of MPF products to choose from.

Mr. Patrick Li, Director & Chief Executive of BEA Trustees, says, “If similar experience in Australia is any indication, it is estimated that approximately 10% of employees in Hong Kong, or roughly 230,000 people, will transfer their MPF assets after the launch of the ECA. We are confident that our wide product range and the competitive management fees of the new Value Scheme will enable us to further increase our market share by capturing transferable MPF assets and personal accounts from these potential MPF customers.”

For more information of the new Value Scheme, please contact the Bank’s MPF intermediaries at any BEA branch, visit the Insurance & Retirement Benefits Services webpage at www.hkbea.com, or call the BEA (MPF) Hotline at (852) 2211 1777.