Many people have difficulty managing their MPF investments. Everyone is different, but with so many investment options available it can be challenging to choose the right ones for you. In fact, research by Manulife found that 71% of its members had problems managing their MPF investments and 53% felt they lacked enough knowledge in MPF portfolio management.
To address this issue, Manulife and Syfe have partnered to launch a new digital MPF advisory tool, designed to recommend an MPF-fund-based portfolio based on each person’s unique circumstances and investment needs. The recommendation includes full transparency into the portfolio allocation, such as asset class breakdown and top holdings, enabling simpler and more informed decision making.
Kevin Li, General Manager and Head of Syfe Hong Kong, said: “Hong Kong has one of the highest life expectancies in the world, but most people are not saving enough for their retirement. One of the barriers that HongKongers have faced is difficulty in selecting funds when they construct their MPF portfolios. With different types of MPF funds having average annualised net returns between -0.4% to 3.3% over the past 5 years, the importance of effective asset allocation and active MPF fund selection is clear.
“We are thrilled to collaborate with Manulife, Hong Kong’s number one MPF provider, to help members understand how to better optimise investment returns based on their risk appetites. Our solution combines our proprietary technology with expertise from leading investment banks and asset managers, and we look forward to promoting broader adoption of this platform to further personalise MPF advisory.”
Manulife’s MPF Robo-Advisor serves as an interactive retirement education platform for members to learn more about portfolio allocation suited to their personal needs and risk profiles. The initiative is part of Manulife’s ongoing commitment to strengthen member education and enhance customer experience in MPF investment management through digital innovation.
Jeanie Ho, Head of Hong Kong and Macau Retirement, Manulife, said: “Our new robotic advisory portal is designed to address this pain-point and is easily accessible via both desktop and mobile devices. Manulife’s MPF contribution members who are digitally enabled will first be invited to experience this user-friendly portal during the 4-month pilot and more members will be able to enjoy this tool in the coming phases…we are confident that this groundbreaking collaboration will elevate our MPF customer experience and contribute positively towards grooming a more proactive and healthier attitude amongst MPF members in their retirement portfolio management.”
Kevin Li concluded: “As part of our drive to expand our suite of products and provide the leading services for Hong Kong people, Syfe has also obtained an MPFA PI licence on top of our existing SFC licences, authorising us to provide MPF investment advice to our clients in Hong Kong. This is a great addition to our full suite of best-in-class cash management and passive income solutions – including Income+, Cash+ Flexi and Cash+ Fixed – making us the go-to for digital investment and retirement advisory.”
About Syfe
Syfe is Asia’s leading investment and saving platform, empowering people to build their wealth for a better future. Fully licensed in Singapore, Hong Kong and Australia, Syfe offers managed portfolios, cash management solutions, digital retirement advisory and brokerage, making it the region’s leading all-in-one wealth management platform. In Singapore alone, Syfe manages over HK$ 10B in assets and nearly 5% adult citizens are using the platform to achieve their financial goals. Launched in 2019, Syfe has raised US$ 52m to date from prominent backers such as Valar Ventures (Wise, N26, Qonto), Unbound (Databricks, Forto) and Partners from DST Global (Robinhood, Revolut, Brex, Coinbase).
In Hong Kong, Syfe holds licenses from the Hong Kong Securities and Futures Commission (SFC) for Type 1 (dealing in securities), Type 4 (advising on securities), Type 9 (asset management) activities (license number: BRQ741), as well as Principal Intermediary license from the Mandatory Provident Fund Schemes Authority (MPFA) (MPF Registration number: IC001175) and is authorized to engage in related regulated activities. For more information, visit: www.syfe.com/en-hk.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2023, we had more than 38,000 employees, over 98,000 agents, and thousands of distribution partners, serving over 35 million customers. We trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges, and under ‘945’ in Hong Kong.
Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.
