'Chamber CMG Choice' - The Choice in MPF

The Hong Kong General Chamber of Commerce today began offering a unique Mandatory Provident Fund (MPF) product to its member companies and other businesses in the Hong Kong SAR.

In an alliance with CMG Asia Ltd, the Chamber has created "Chamber CMG Choice," an approved MPF product under the MPF Ordinance.

As a pooled fund, master trust scheme, it is the only MPF product involving a local business or trade association with a commercial insurer having years of experience in retirement scheme products in Australia and elsewhere.

Chamber CMG Choice offers six investment funds, namely CMG Fixed Income Fund with Guarantee, CMG Capital Preservation Fund, CMG Stable Income Fund, CMG Balance Portfolio Fund, CMG Progressive Growth Fund, and CMG Hong Kong Equity Fund. With these comprehensive investment options and other flexibility, Chamber CMG Choice will meet the varying needs of employers.

"We are unique in the MPF market place," Chamber Director, Dr Eden Woon said today. "Chamber CMG Choice brings together the local business experience and reputation of the Chamber and the retirement fund expertise of an international financial services group.

"We believe the new venture will provide a vital service to our Chamber members who are now faced with making a decision on introducing a compulsory retirement fund scheme to provide financial security for their employees in their retirement.

"I urge all Chamber members to support the Chamber CMG Choice product which aims to make the introduction of the MPF to their businesses as simple and seamless as possible," Dr Woon said.

Chamber Services Ltd of the Hong Kong General Chamber of Commerce will market the new MPF product to Chamber members and other businesses in the SAR.

The company has already recruited highly experienced staff to market the scheme to Chamber members and others, along with additional representatives seconded from CMG Asia. All are licensed to market the MPF product.

Chamber Services Ltd will effectively provide a "one stop shop" solution for Chamber members and other businesses seeking to put in place a mandatory provident fund scheme from the start-up date of December 1 this year.

Full details of the Chamber CMG Choice product will be announced at a special presentation to chamber members and any other interested businesses on February 23. The presentation and formal launch of the product will be held at the Hong Kong Convention and Exhibition Centre.

"It is already clear the Mandatory Provident Fund business will be extremely competitive," Dr Woon said. "But we believe we are in a unique position with unique product that will be attractive to our members and a tremendous success."

For enquiries: HKGCC - Mr Ian Perkin 2823 1242,
or CMG Asia - Ms Julia Wong 3183 2102