Ms. Ka Shi Lau, Managing Director & CEO (right) and Mr. Michael Ha, Investment Director of BCT Group (left) at the media briefing on Jan 29, 2019.
BCT Group ("BCT") held a media briefing on Jan 29 on their e-services and 2019 market outlook.
BCT reported the statistics of electronic platform usage among its scheme members and employers in MPF management over the past few years, and said that electronic MPF management is poised to become mainstream for its scheme members and employers.
The key findings of the statistics are as follows:
• The usage of "BCT MPF eChannel", an online self-service platform designed to consolidate MPF accounts, continued to rise; demonstrating that users are becoming more capable of completing the entire consolidation process on their own:
(1) Owing to the continuous optimization of related functions, more than 70% of members using "BCT MPF eChannel" were able to complete the entire asset transferal process on their own in 2018, up almost 30% from 2015
(2) As compared with 2015, the number of accounts consolidated through the platform rose over ninefold while the assets transferred-in soared by 13 times in 2018
• Between 2015 and 2018, the number of views and instructions placed online for MPF management increased significantly, with the functions that saw the biggest growth as follows:
(1) Fund Switching (+100%)
(2) Change of Investment Mandate for Future Contribution (+97%)
(3) Viewing e-statements (+88%)
(4) Viewing Gain/Loss (+69%)
(5) Viewing Current Fund Mix (+57%)
• In 2018, nearly 95% of the instructions related to fund switching and change of investment mandate for future contribution were conducted online or through mobile APP.
Ms. Ka Shi Lau, Managing Director & CEO of BCT Group, said, "with the growing trend of MPF management with the internet and mobile phones, BCT will continue to innovate in a sustainable manner, and provide a diversified e-services solution that allows members to manage their MPF at ease; and employers to handle administrative processes more accurately and efficiently."
At the briefing, Mr. Michael Ha, Investment Director of BCT Group, shared BCT's market views for 2019. It is believed that the global stock market valuations are inexpensive at present, and support has been seen since the end of 2018. Meanwhile, corporate earnings are expected to slow down but remain at reasonable levels in the next three years. China's economy is slowing, but the stimulus measures launched so far appear effective in boosting the market. On the contrary, the rise of populism and the "no-deal" Brexit, may affect the political and economic development in Europe. Besides, it is believed that the uncertainty of US-China trade negotiations will continue to cast a shadow over the market as a comprehensive solution is unlikely to be reached by both parties in the near term.
In her concluding remarks, Ms. Lau said, "we saw different levels of growth in various e-services in recent years, and managing MPF in electronic means is becoming mainstream for BCT Members. In 2019, we will continue to p a diversified digital solution to enhance the e-journey experience of our members and employers, create value for our customers and society, and practice sustainable development." With regards to MPF investing, she suggested members to remain calm during market turbulence, and not to forget that MPF is a long-term investment.
