The Bank of East Asia (00023) announced that its wholly-owned subsidiary, Bank of East Asia (Trustees), has reduced the management fees for six constituent funds under the BEA (MPF) Value Scheme.
The fees, charged at the constituent fund level, have been lowered from 0.99% to 0.90% per annum of the net asset value effective 1 July. The new fee range of the total management fees (including the constituent funds and the underlying funds levels) for all constituent funds under the BEA (MPF) Value Scheme is 0.70% - 0.91% per annum of the net asset value.