Important Notes• Youshouldconsideryourownrisk tolerance levelandfinancialcircumstancesbeforemakingany investmentchoicesor investingaccording to the

DefaultInvestmentStrategy.When,inyourselectionoffundsortheDefaultInvestmentStrategy,youareindoubtastowhetheracertainfundorthe

Default InvestmentStrategy issuitable foryou (includingwhether it isconsistentwithyour investmentobjective),youshouldseekfinancialand/or

professionaladviceandchoosetheinvestmentchoice(s)mostsuitableforyoutakingintoaccountyourcircumstances.

• Intheeventthatyoudonotmakeanyinvestmentchoices,pleaseberemindedthatyourcontributionsmadeand/oraccruedbenefitstransferredinto

thePlanwillbeinvestedinaccordancewiththeDefaultInvestmentStrategy,whichmaynotnecessarilybesuitableforyou.Pleaserefertothesection

headed“DefaultInvestmentStrategy”intheprincipalbrochureofBCT(MPF)ProChoiceandBCT(MPF)IndustryChoiceforfurtherinformation.

• Investmentinvolvesrisks.Pastperformanceisnotindicativeoffutureperformance.

Issue 2 2018 第二期Member News 成員通訊

1BCT Connect 成員通訊

Account Consolidation

Investment Analysis

Account Management

BCT - MPF Made Easy Piggy Army Debuts Again!

View Here

“The furthest distance in the world, is between you and your MPF…”

BCTPiggyArmydebutsagain!BCTlaunchednewbrandcampaigntopresentthepainpoints

ofmanypeople-can’t be bothered to look at their MPF accounts; not sure how to

manage them.Thenewadrevolvesaroundthelossofconnectionbetweenmanypeopleand

theirMPFaccounts,whilewiththehelpofBCT,youcanmanageMPFwithease.

“With BCT, connecting with my MPF is now a breeze!”

BywalkingyouthroughyourMPFstatements,consolidatingmultipleaccounts intoone,and

explainingtheperformanceofyourMPFportfolios,BCThelpsyoumanageyourMPFinevery

detail.WithBCT,connectingwithMPFhasneverbeeneasier.

MeetPiggyArmyonvariousTVchannels,

MTR stations, Facebook, Youtube and

onlinemediafromnowtillendofJune.You

canalsovisitwww.bcthk.com/mpfto learn

more.

Caring Company – organized by The

Hong Kong Council of Social Service

• CaringCompany15Consecutive

Years

The 2018 MPF Awards – organized by MPF Ratings Limited

MPFRatingsLimitedisanindependentpensionresearchproviderinHongKong.Formoredetailsoftheratingsandtheawardprogramme,

pleasevisit:http://www.mpfratings.com.hk/media/methandhttp://www.mpfratings.com.hk/media/award.

2BCT Connect 成員通訊

BCTcontinuestowinacclaimsfromdifferentsectors,recognizingoureffortsinproducts,customerservice,administration,fundperformance,andcorporate

socialresponsibility!

• MPFRatings2018GoldRatedSchemes

• 2018RisingStarWinner

• 2018BestAdministration

• 2018BestEmployerServicing

• 10YearConsistentPerformerfor2018–MixedAssetFund(Dynamic)

IfyouhaveregisteredBCT’s“AccountBalanceSMS”service,youwillreceivetheSMSmessage

onthe2ndbusinessdayofeachmonthstartinginMay2018(previouslybereceivedinthemiddle

ofthemonth).Therelevantbalanceamountwillbecalculatedbyusingthefundpriceasatthelast

businessdayofthepreviousmonth,whichalignsthecurrentpracticeforcalculatingthefundprice

inthemonthlyE-statement,tofacilitateyourfuturereferenceandcomparison.

ToregisterthisfreeSMSalertservice,simplyfill inandreturntheform,thenyoucancheckyour

monthlyaccountbalanceandgetupdatesofyouraccount.

Theplatform forBCT (MPF)ProChoice isupdatedwithcertain restructuringandchangesof

investmentpolicies,effectivefrom23April2018.Forthepurposesof implementingthechanges,

certainrelevantadministrative formshavebeenupdated.Youareadvisedtovisitourwebsiteto

downloadthelatestversionofformsfordifferentpurposes.

Application

Form

Ms Ka Shi Lau, BBS, our Managing

Director & CEO, was selected by

AsianInvestor magazine as one of the

“AI 20 Leading Pension Executives” in

the region. She is one of the only two

representatives named from Hong Kong.

Broad Capability Widely Recognized

“Account Balance SMS” Sending Date

Updated Fund Platform for BCT (MPF) Pro Choice Please Use New Administrative Forms

Lipper Fund Awards Hong Kong 2018

– organized by Lipper

• Best Hong Kong Pension Funds

Over3Years–EquityGlobal

• Best Hong Kong Pension Funds

Over5Years–EquityGlobal

Remarks:Theaboveawardsare forreferenceonly,withthesolepurposeofcorporatecommunications.Investmentinvolvesrisks.Pastperformanceisnotindicativeoffutureperformance.

Remarks:Theaboveawardsare forreferenceonly,withthesolepurposeofcorporatecommunications.Investmentinvolvesrisks.Pastperformanceisnotindicativeoffutureperformance.

Moreinformationaboutawardisavailableathttp://lipperfundawards.com/Awards/HongKong.

Formoreinformationaboutthescheme,pleasevisithttp://www.caringcompany.org.hk/index.php.

3BCT Connect 成員通訊

Market Focus: US-China Trade Dispute Continues to Swing Global Market Sentiments

• Thevalueofconstituentfundsmayfallaswellasrise.Forfurtherinformationabouttherisksinvolved,pleaserefertotheprincipalbrochureofBCT(MPF)ProChoiceandBCT(MPF)IndustryChoice.

• The informationcontained inthisdocument isprovidedfor informationpurposeonlyanddoesnotconstituteanysolicitationandofferingof investmentproducts.　Potentialinvestorsshouldbeawarethatsuchinvestmentsinvolvemarketriskandshouldberegardedaslong-terminvestments.

Trade War Concerns Added Volatility to US EquitiesWhile tradewarconcernsand rising treasury yieldscontinued toweigh

onmarket sentiment, strongcorporateearnings remainedsupportiveof

USequities.Wecontinue tocloselymonitorwagegrowthand inflationas

accelerationinthesemetricsmaycausemoreaggressivemonetarytightening.

Ontheotherhand,althoughthe tariffsonChineseexportswillnotgo into

effectimmediately,negotiationsonUS-ChinatradedisputehasstartedinMay,

andtheuncertaintyofwhichcouldcontinuetocausevolatility.Wemaintaina

NEUTRALoutlookforUS equities.

European Stocks was Clouded by Economic SlowdownECB reiterated that the bond

p u r c h a s e p r o g r a m m e w i l l

continueuntil at least theend

o f Sep tember . The recen t

weakness inEuropeandatahas

also dampened expectations

of ECB’s t ightening, which

could moderate the pace of

Eurostrength in theupcoming

months.Moreover,uncertainty

ofearningmomentumhasrisen

underabackdropofasoftening

economy. Also, the polit ical

uncertainty in Italy and Spain

continues toadddownside risk

toEuropeanstocks.Wemaintain

aSLIGHTLYNEGATIVEoutlook

forEuropean equities.

Bond Found Support amid Market VolatilityWith thecontinuedglobaleconomicgrowthandrising inflation

pressure,therewouldbemoreupwardpressureonbondyields

goingforward.However,heightenedglobalstockmarketvolatility

amid tradewaruncertainty, haveprovideddemands for safe

assets.While thecontinuous rising trendofUS treasuryyield

issupportiveof theUSdollar,dovish tuneofECBamidrecent

slowdown of Eurozone economic growth gives downward

pressureon theEuro.Meanwhile, theRMB is likely to remain

stableamidChina’s tighteningofmonetarypolicy.RMBbond

remainsattractivegivenhigheryieldsandstableRMB.Weremain

NEUTRAL on overall bonds, while maintaining SLIGHTLY

POSITIVEonRMB bonds.

Continuation of Stimulus Supports a Weaker YenBoJkeptmonetarypolicyunchangedandremoved

previouswordingon reaching2% inflationaround

fiscal 2019. The move of BoJ suggested more

time isneeded for inflation to reach its targetamid

current moderate economic growth. Moreover,

thecontinuationof stimulusprovides tailwind for

aweaker yen, coupledwith improvedeconomic

growth, remainssupportiveofJapanesecorporate

earnings.However,Abe’spoliticalcrisisand fears

of tradewarcouldunderminesentiment in thenear

term.WeremainNEUTRALonJapanese equities.

Trade War Concerns Hurt Chinese Market SentimentsPotential trade wars with the US

and financialdeleveragingare risks

to China economic growth and

marketsentiment.Looking forward,

negotiations over trade dispute

betweenUSandChinahas taken

placeinMay.Ifthetwosidescannot

reachanagreement, itcould further

harmmarketsentiment in thenear

terms. However, the inclusion of

ChinaA-shareintheMSCIIndexwill

takeeffect inJuneand is likely to

provideapositive liquiditybackdrop

for Chinese stock markets. We

maintain SLIGHTLY POSITIVE on

China & Hong Kong equity.

Stronger US Dollar is a Headwind for Asian MarketsLeadersofNorthandSouthKoreasignedadeclaration towork

towarda "completedenuclearization"of theKoreanpeninsula,

providing short-term positive sentiments forAsian equities. US

dollargetsstronger followingrisingUSTreasuryyields. If the trend

continues, itcouldweighonAsianmarkets.However, theearnings

momentum isexpected tocontinueunder thebackdropofstrong

globalgrowthandsolid fundamentals.GivenUSdollarhas turned

strongerrecently,wedowngradeAsian ex Japan ex China & Hong

Kong equitiesfromSLIGHTLYPOSITIVEtoNEUTRAL.

Someoftheinformationcontainedhereinincludinganyexpressionofopinionorforecasthasbeenobtainedfromorisbasedonsourcesbelievedbyus tobereliable,but isnotguaranteedandwedonotwarrant theadequacy,accuracy, reliabilityorcompletenessofsuch informationobtained fromorbasedonexternalsources. The information isgivenontheunderstandingthat independent investmentadviceshouldbesoughtwhenmakinginvestmentdecisions;thatitwillnotbereliedoninthemakingofinvestmentdecisionandthatanypersonwhoactsuponitorotherwisechangeshisorherposition inreliancethereondoessoentirelyathisorherownrisk. This isnotanoffer tobuyorsellorasolicitationorincitementofoffertobuyorsellanysecuritiesreferredtoherein,saveforBCT(MPF)ProChoiceandBCT(MPF)IndustryChoiceandtheirunderlyingconstituentfunds. Itshouldalsobeappreciatedthatundercertaincircumstancestheredemptionofunits/sharesmaybesuspended. Investment involves, inparticular, risksassociatedwith investment inemergingand lessdevelopedmarkets. Pleaserefer totherelevantprospectusfordetails.Pastperformanceisnotindicativeoffutureperformance.“BCTGroup” —BCTFinancialLimited(PlanSponsor) —BankConsortiumTrustCompanyLimited(Trustee&Administrator)

ThisdocumentisissuedbyBCTFinancialLimited

Member Hotline: 2298 9333

Employer Hotline: 2298 9388www.bcthk.com18/F Cosco Tower, 183

Queen’s Road Central, Hong

Kong

4BCT Connect 成員通訊

MandatoryProvidentFundSchemesAuthority

Hotline:29180102

Website:www.mpfa.org.hk

05

/20

18

1. ApersonalaccountmainlyreceivesMPFbenefitsattributabletoaschememember'sformeremploymentorformerself-employmenttransferredfromotherMPFaccounts,andalsoMPFbenefitsattributabletoaschememember'scurrentemploymenttransferredfromacontributionaccountforinvestment.

2. AcontributionaccountmainlyreceivesMPFcontributionsrelatedtoaschememember'scurrentemploymentorself-employmentforinvestment.

ATVprogrammeaboutDansharihasbecomethetalkofthetownrecently.Danshariisalifestyle

originatingfromJapanwhichsuggeststidyingupyourbelongingswiththeultimategoalofpursuing

asimplelife.TheconceptisagoodfitforhandlingyourMandatoryProvidentFund(MPF)personal

account(PA)1.

TheMandatoryProvidentFundSchemesAuthority’s(MPFA)StatisticalAnalysisofAccruedBenefits

HeldbySchemeMembersofMandatoryProvidentFundSchemes,published lastyear,showed

thatasattheendofDecember2016,therewere3.87millioncontributionaccounts2(CA)and5.36

millionPAsintheMPFSystem.Morethan40%ofthePAholdershadtwoormorePAs.

ToavoidcreatingmultiplePAs,youshouldtransferyourMPFaccruedbenefitsfromyourprevious

employmenttotheMPFaccountsetupbyyournewemployerwhenyouchange jobs.Youcan

alsochoosetomergemultiplePAsintooneaccount.

ThemorePAsyouhold,themorescatteredyourMPFinvestmentswillbe,requiringmoretimeand

efforttomanagethem.IfyouhavemorethanonePA,takeactiontoconsolidatethemnow!

TheMPFAhasane-EnquiryofPersonalAccount (ePA)platformandamobileapplication (MPFA

ePA).Onceyouhavesignedupandactivatedyouraccount for theePAservice,youcangeta

reportonyourMPFpersonalaccountsanytime,anywhereusingyourcomputerormobiledevice

freeofcharge.Thecontactdetailsofalltrusteescanalsobeenfoundonthisplatform.Asatthe

endofMarch2018,over51,000schememembershaveregisteredandactivatedtheservice.

Consolidate Your MPF Personal Accounts for a Simpler Life

Being a Smart Web User Have You Ever Been Hooked?

Checkingemailsandsurfingonwebarenowhabits thatmostpeopledoeveryday.However,we

shouldbewareofphishing, thewayusedbycyber-theft to trickyou intoprovidingyourpersonal

informationorfinancialinformation.

Toavoidbeinghooked,thereare“3Checks”recommended:

1 Check who are asking for your information

Somephishingpretends tobeasystemmessage froma legalsource,sobetterbe

cautiouswithyourusernameandpassword,nevershareyourpasswordbyanymeans.

2 Check a link before clicking on it

Forwebsitelinkinemail,rightclickandcopythelinktothebrowserandverifyifitislegal.

Ifyouarevisitingawebsitewithapadlockonthetopleftcorner,clickonit.Ifthewebsite

owner'snameshowndoesnotmatchwhatyouareexpecting,besuspicious.

3 Check the common phishing language

Lookoutforcontentinemailslike"verifyyouraccount"orwarningsonaccountproblem,

pleasecheckwith thecompanydirectly rather thanusingany linkorothercontact

informationprovidedintheemail.

Itisagoodpracticetolookatalltheemailsandwebsitessuspiciously.Beingtrickedbyaphishingcan

costyoumoneyandvaluabletime.Beasmarteruser!