Operators of an MPF Scheme

Plan Sponsor BCTF

• Determine pricing structure & fee discount for clients
• Design MPF scheme including selecting fund managers & investment choices for members
• Establish performance benchmarks for constituent funds
• Promote / market the scheme and provide member service

Trustee BCTC

• Perform fiduciary & statutory duties, diligently and responsibly
• Appoint administrator, fund manager & custodian, oversee & monitor such service providers
• Hold title to trust assets on behalf of scheme members & authorise benefit payments
• Regulatory & compliance reporting

Administrator BCTC

• Keep proper accounts & records of scheme / members / investment funds
• Provide members with benefit statements and relevant information on a regular basis
• Calculate net asset value per unit of trust funds

Custodian BCTC

• Safekeep underlying securities & cash
• Settle purchase / sale of securities
• Act on trustee’s instruction
• Appoint appropriate sub-custodian

Fund Manager

• Provide independent investment management
• Formulate investment policy, strategy & benchmarks
• Comply with respective investment guidelines / regulations & investment policies
• Monitor investment restrictions