Fidelity Retirement Master Trust

[Pages:114]MPF

Fidelity Retirement Master Trust

MPF Scheme Brochure For Fidelity Retirement Master Trust

Investment Manager: FIL Investment Management (Hong Kong) Limited Trustee: HSBC Institutional Trust Services (Asia) Limited Version date: March 2020 Enquiry contact: (+852) 2629 2629 Investment Manager's website: .hk*

* This website has not been reviewed by the SFC.

IMPORTANT: IF YOU ARE IN ANY DOUBT ABOUT THE MEANING OR EFFECT OF THE CONTENTS OF THIS BROCHURE, YOU SHOULD SEEK INDEPENDENT PROFESSIONAL FINANCIAL ADVICE.

FIL Investment Management (Hong Kong) Limited accepts full responsibility for the accuracy of the information contained in this Brochure as at the date of this Brochure and confirms, having made all reasonable enquiries, that to the best of its knowledge and belief there are no other facts the omission of which would make any statement misleading.

The Master Trust has been authorised by the SFC and approved by the MPF Authority. Such authorization and approval does not imply that investment in the Master Trust is recommended by the SFC or the MPF Authority. SFC authorisation is not a recommendation or endorsement of the Master Trust nor does it guarantee the commercial merits of the Master Trust or its performance. It does not mean the Master Trust is suitable for all participants of the Master Trust nor is it an endorsement of its suitability for any particular participant of the Master Trust.

Fidelity Retirement Master Trust Please note:

The MPF Conservative Fund under the Fidelity Retirement Master Trust does not guarantee the repayment of capital.

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.

You should consider your own risk tolerance level and financial circumstances before making any investment choices or invest according to the Default Investment Strategy. When, in your selection of funds or the Default Investment Strategy, you are in doubt as to whether a certain fund or the Default Investment Strategy is suitable for you (including whether it is consistent with your investment objectives), you should seek financial and/or professional advice and make investment choices most suitable for you taking into account your circumstances.

In the event that you do not make any investment choices, please be reminded that your contribution made and/or benefits transferred into the Master Trust will unless otherwise provided in this Brochure be invested in accordance with the Default Investment Strategy which may not necessarily be suitable for you.

TABLE OF CONTENTS

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INTRODUCTION ............................................................................................................ 1 DIRECTORY.................................................................................................................... 4 FUND OPTIONS, INVESTMENT OBJECTIVES AND POLICIES........................................ 5 RISKS ........................................................................................................................... 45 FEES AND CHARGES ................................................................................................... 63 ADMINISTRATIVE PROCEDURES................................................................................. 76 OTHER INFORMATION................................................................................................ 95 GLOSSARY ................................................................................................................ 103

INTRODUCTION

GENERAL DETAILS OF THE MASTER TRUST

Fidelity Retirement Master Trust ("Master Trust") is a master trust established by a trust deed dated 31 January 2000 between FIL Investment Management (Hong Kong) Limited and HSBC Institutional Trust Services (Asia) Limited as amended from time to time ("Trust Deed"). It is established under and governed by the laws of Hong Kong.

SCHEME STRUCTURE

The Master Trust currently offers 21 Constituent Funds, listed below:

Lifecycle Funds (i) Growth Fund (ii) Balanced Fund (iii) Stable Growth Fund (iv) Capital Stable Fund

SaveEasy Funds (v) Fidelity SaveEasy 2020 Fund (vi) Fidelity SaveEasy 2025 Fund (vii) Fidelity SaveEasy 2030 Fund (viii) Fidelity SaveEasy 2035 Fund (ix) Fidelity SaveEasy 2040 Fund (x) Fidelity SaveEasy 2045 Fund (xi) Fidelity SaveEasy 2050 Fund

Market Investment Funds - (a) Equity Funds (xii) Asia Pacific Equity Fund (xiii) Global Equity Fund (xiv) Hong Kong Equity Fund

Market Investment Funds - (b) Bond Funds (xv) Hong Kong Bond Fund (xvi) RMB Bond Fund (xvii) World Bond Fund

Index Tracking Funds (xviii) Fidelity Hong Kong Tracker Fund

MPF Conservative Fund (xix) MPF Conservative Fund

Default Investment Strategy Funds (xx) Core Accumulation Fund (xxi) Age 65 Plus Fund

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Each Constituent Fund is contained within the trust constituting the Master Trust. Each of the Constituent Funds is unitised and denominated in HKD. Each Constituent Fund is a feeder fund investing directly into Class B units of the appropriate FGIF Fund (except for (i) the Fidelity Hong Kong Tracker Fund which invests in the TraHK (as defined below), (ii) the MPF Conservative Fund which invests in the Class M units of the FGIF HK$ Money Fund, and (iii) the Core Accumulation Fund and Age 65 Plus Fund which invest in the Class A units of the corresponding FGIF Fund), as described below. The investment structure is shown in the diagram below. The Explanatory Memorandum for the underlying approved pooled investment funds is available upon request.

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Fidelity Retirement Master Trust ("FRMT")

Constituent Fund

Constituent Fund

Feeder into FGIF Funds Feeder into TraHK

FGIF Fund Feeder into FGIF Fund of Funds FGIF Funds

FRMT Fidelity Hong Kong Tracker

Fund

FRMT Hong Kong Equity Fund

FRMT Asia Pacific Equity Fund

FRMT Global Equity Fund

FRMT Fidelity SaveEasy 2050 Fund

FRMT Fidelity SaveEasy 2045 Fund

FRMT Fidelity SaveEasy 2040 Fund

FRMT Fidelity SaveEasy 2035 Fund

FRMT Fidelity SaveEasy 2030 Fund

FRMT Fidelity SaveEasy 2025 Fund

FRMT Fidelity SaveEasy 2020 Fund

FRMT Growth Fund

FRMT Balanced

Fund

FRMT Stable Growth Fund

FRMT

FRMT

FRMT

Capital World Bond Hong Kong

Stable Fund Fund Bond Fund

FRMT RMB Bond

Fund

FRMT MPF Conservative Fund

FRMT Core Accumulation Fund

FRMT Age 65 Plus Fund

FGIF

FGIF

Asia Pacific Global

Equity Fund Equity Fund

(MPF)

FGIF Fidelity SaveEasy 2050 Fund

FGIF Fidelity SaveEasy 2045 Fund

FGIF Fidelity SaveEasy 2040 Fund

FGIF Fidelity SaveEasy 2035 Fund

FGIF Fidelity SaveEasy 2030 Fund

FGIF Fidelity SaveEasy 2025 Fund

FGIF Fidelity SaveEasy 2020 Fund

FGIF Growth

Fund

FGIF Balanced

Fund

FGIF Stable Growth Fund

FGIF

FGIF

Capital

World

Stable Fund Bond Fund

FGIF RMB Bond Fund (MPF)

FGIF Core Accumulation Fund

FGIF Age 65 Plus Fund

TraHK

FGIF Global Bond HK$

Hedged Fund

2 or more APIFs and/or ITCIS*

FGIF Hong Kong Equity Fund

FGIF Asia Pacific Equity Fund

FGIF Japanese Equity Fund

FGIF European Equity Fund

FGIF Americas Equity Fund

FGIF Global Bond Fund

FGIF Hong Kong Bond Fund

FGIF RMB Bond

Fund

FGIF US$ Money

Fund

FGIF HK$ Money

Fund

* The APIFs and/or ITCIS in which the FGIF Core Accumulation Fund and FGIF Age 65 Plus Fund invest may or may not be sub-fund(s) of FGIF.

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DIRECTORY

Trustee, Custodian and Administrator

HSBC Institutional Trust Services (Asia) Limited 1 Queen's Road Central Hong Kong

Investment Manager

FIL Investment Management (Hong Kong) Limited Level 21, Two Pacific Place 88 Queensway Admiralty Hong Kong

Solicitors to the Investment Manager

Deacons 5/F, Alexandra House

18 Chater Road Central

Hong Kong

Auditor

PricewaterhouseCoopers 22nd Floor, Prince's Building

Central Hong Kong

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