Important: If you are in doubt about the meaning or effect of the contents of this website, you should seek independent professional advice.
Important to note:
- Each of the Principal Capital Guaranteed Fund and the Principal Long Term Guaranteed Fund invests solely in an insurance policy-based Approved Pooled Investment Fund (“APIF”) issued by Principal Insurance Company (Hong Kong) Limited ("Principal"). The guarantee is also provided by Principal. Your investments, if any, in the Principal Capital Guaranteed Fund and the Principal Long Term Guaranteed Fund are therefore subject to the credit risk of Principal. Please refer to section 3.4.1 (Principal Capital Guaranteed Fund) and section 3.4.2 (Principal Long Term Guaranteed Fund) of the relevant MPF Scheme Brochure for details of the credit risk, guarantee features and guarantee conditions.
- Principal, the guarantor of the insurance policy-based APIF in which the Principal Long Term Guaranteed Fund invests, will only provide a guarantee of capital and a prescribed guarantee rate of return in certain specified circumstances. Please note that you may lose the guarantee entitlement if you have elected to transfer your accrued benefits in the Scheme* (i) from an account within the Scheme to another account within the Scheme; (ii) from the Principal Long Term Guaranteed Fund to another Constituent Fund* in the Scheme; or (iii) to another registered scheme as described in section 6.7.2 (Transferring accrued benefits (other than accrued benefits attributable to Tax Deductible Voluntary Contributions (“TVC”)) from or within the Scheme) of the relevant MPF Scheme Brochure. Please refer to section 3.4.2 (Principal Long Term Guaranteed Fund) of the relevant MPF Scheme Brochure for details of the guarantee conditions. Please also note that a partial withdrawal of accrued benefits may affect your guarantee entitlement under the Principal Long Term Guaranteed Fund. For details, please refer to Appendix I (Operation of the guarantee in respect of the Principal Long Term Guaranteed Fund) of the relevant MPF Scheme Brochure.
- If you are currently investing in the Principal Long Term Guaranteed Fund, a withdrawal of the accrued benefits on ground of terminal illness may affect your entitlement to the guarantee and you may lose your guarantee. For details please check the relevant MPF Scheme Brochure or consult the trustee before making any such withdrawal.
- Principal, the guarantor of the Principal Capital Guaranteed Fund, will provide a guarantee to ensure the unit value of the Principal Capital Guaranteed Fund will never decrease. Prior to 30 December 2011, under the indirect charge option (i.e. the Class I Units), part of the management fee was asset based and was deducted from the net asset value of the Principal Capital Guaranteed Fund, while the remaining part was paid by deducting units from members’ account. As such, capital may not be guaranteed in absolute term for members under the indirect charge option before 30 December 2011.
- Investment in the Principal HK Dollar Savings Fund is different from placing deposits with a bank or deposit-taking company and is not protected by the Deposit Protection Scheme. Investment in the Principal HK Dollar Savings Fund will be subject to investment risks.
- Fees and charges of a MPF conservative fund can be deducted from either (i) the assets of the Constituent Fund or (ii) members’ account by way of unit deduction. This Principal MPF Conservative Fund uses method (i) and, therefore, unit prices/net asset value/fund performance quoted have incorporated the impact of fees and charges.
- You should consider your own risk tolerance level and financial circumstances before investing in Default Investment Strategy (“DIS”). You should note that the Principal Core Accumulation Fund and the Principal Age 65 Plus Fund may not be suitable for you, and there may be a risk mismatch between the Principal Core Accumulation Fund and the Principal Age 65 Plus Fund and your risk profile (the resulting portfolio risk may be greater than your risk preference). You should seek financial and/or professional advice if you are in doubt as to whether the DIS is suitable for you, and make the investment decision most suitable for you taking into account your circumstances.
- You should note that the implementation of the DIS may have an impact on your MPF investments and benefits. You should consult with the Trustee if you have doubts on how you are being affected.
- You should consider your own risk tolerance level and financial circumstances before making any investment choices. In your selection of Constituent Fund(s), you are in doubt as to whether a certain Constituent Fund is suitable for you (including whether it is consistent with your investment objectives), you should seek financial and/or professional advice and choose the Constituent Fund(s) most suitable for you, taking into account your own circumstances.
- In the event that you do not make any investment choices, please be reminded that any contributions made and/or benefits transferred into this Scheme will be invested into the DIS.
- Investment involves risks. The value of the funds may go up or down. The past performance is not indicative of future performance. Your investment may suffer significant loss. There is no assurance on investment returns and you may not get back the amount originally invested.
- You should not invest in reliance on this website alone. You should read the relevant MPF Scheme Brochure for further details (including investment policy, risk factors, fee and charges of the Constituent Funds).
* “Scheme” means Principal MPF Scheme Series 800.
“Constituent Fund” means the constituent funds covered under the Scheme.
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Principal MPF Scheme Series 800 Series 800 consists of 19 constituent funds with different risk/return profiles. It gives your employees more fund choices than other Principal MPF Schemes. This is particularly suitable for large companies as it provides a wide variety of investment choices for each employee.
Members could design your own investment portfolio to better meet your retirement needs. Series 800 is suitable for members with a greater investment knowledge and experience.
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Overview of Constituent funds |
Risk/Return Spectrum |
Low |
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High |
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Default Investment Strategy
The MPF default investment strategy ("DIS") is a ready-made investment arrangement mainly designed for those members who are not interested or do not wish to make an investment choice, and is also available as an investment choice itself for members who find it suitable for their own circumstances. For general information about DIS, please refer to the DIS dedicated webpage.
Latest Scheme Information
"APIF" refers to an "Approved Pooled Investment Fund" approved by the Authority pursuant to the MPF Ordinance for investment by provident fund schemes registered under the MPF Ordinance.
"ITCIS" refers to "Index-Tracking Collective Investment Schemes" (as defined in Part 1 of Schedule 1 to the Mandatory Provident Fund Schemes (General) Regulation) approved by the MPFA for investment by provident fund schemes registered under the MPFS Ordinance.
#Risk/Return Profile
Low
Moderate
Moderate to High
High
The following classifications of Risk/Return Profile for each constituent fund are provided by Principal Asset Management Company (Asia) Limited and will be reviewed on an annual basis. The classifications of Risk/Return Profile are based on past volatility (i.e. annualized standard deviation of returns), worst and best two months returns, and the relative risk levels among the funds in the Scheme. Besides, reference is also made to the investment objectives of the respective funds. The classifications of the Risk/Return Profile are provided for reference only and they should not be regarded as investment advice.
Principal Age 65 Plus Fund
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Investment Objective |
To provide stable growth for the retirement savings to members by investing in a globally diversified manner. The fund is denominated in Hong Kong dollars. |
Balance of Investments |
Invest in a unit trust APIF, Principal Unit Trust Umbrella Fund - Principal Age 65 Plus Fund, which in turn invests in two or more passively or actively managed approved ITCISs and / or unit trust APIFs as allowed under the Mandatory Provident Fund Schemes (General) Regulation. |
Asset Allocation |
Around 20% in higher risk assets; Around 80% in lower risk assets |
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Geographic Allocation |
No prescribed allocation |
Risk / Return Profile# |
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Principal Core Accumulation Fund
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Investment Objective |
To provide capital growth to members by investing in a globally diversified manner. |
Balance of Investments |
Invest in a unit trust APIF, Principal Unit Trust Umbrella Fund - Principal Core Accumulation Fund, which in turn invests in two or more passively or actively managed approved ITCISs and / or unit trust APIFs as allowed under the Mandatory Provident Fund Schemes (General) Regulation. |
Asset Allocation |
Around 60% in higher risk assets;Around 40% in lower risk assets |
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Geographic Allocation |
No prescribed allocation |
Risk / Return Profile# |
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Default Investment Strategy ("DIS")
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Investment Objective |
The MPF default investment strategy ("DIS") is a ready-made investment arrangement mainly designed for those members who are not interested or do not wish to make an investment choice, and is also available as an investment choice itself for members who find it suitable for their own circumstances. |
Balance of Investments |
The DIS aims to balance the long term effects of risk and return through investing in two Constituent Funds, namely the Principal Core Accumulation Fund and the Principal Age 65 Plus Fund, according to the pre-set allocation percentages at different ages. |

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Investment Objective |
To guarantee the capital value of the contributions, and to earn a competitive short-term rate of return. |
Balance of Investments |
Invest in an insurance policy Approved Pooled Investment Fund ("Policy APIF") which will in turn invests in mainly a portfolio of short duration securities.
(Investments in the Policy APIF are subject to the credit risk of Principal) |
Asset Allocation |
Debt Securities |
0 - 100%
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Cash & Short-term Investments (e.g. bills and deposits) |
0 - 100%
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Geographic Allocation |
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Risk / Return Profile# |
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* Principal Capital Guaranteed Fund
Principal, the Guarantor of the Principal Capital Guaranteed Fund under this Scheme, will provide a guarantee to ensure the unit value of the fund will never decrease. Prior to 30 December 2011, under the indirect charge option (i.e. the Class I Units after 30 December 2011), part of the management fee is asset based which is deducted from the net asset value of the fund, while the remaining part is payable by deducting units from member's account. As such, capital may not be guaranteed in absolute term for scheme members under the indirect charge option before 30 December 2011. For details, please refer to the sections "How guarantee works" and "Fees and Charges" of the MPF Scheme Brochure of the Scheme.
Subject to the sole discretion of the Trustee, (i) the Class D Units will not be available to employers, employees and self-employed persons who join the Scheme on or after 1 October 2004; and (ii) personal account members and existing Special Voluntary Contributions members will be subject to Class I Units only.

Principal Long Term Guaranteed Fund** |
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Investment Objective |
To provide a competitive long-term total rate of return, while also providing a minimum guaranteed average annual return over the career of the members. |
Balance of Investments |
Invest in a Policy APIF which will in turn invest in two or more Approved Pooled Investment Funds ("APIFs") and/or Approved Index-Tracking Collective Investment Schemes ("ITCIS"). The underlying investments will consist of debt and equity securities which may be denominated in HK dollars, US dollars or other currencies.
(Investments in the Policy APIF are subject to the credit risk of Principal)
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Asset Allocation |
Equity Securities |
10 - 55%
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Debt Securities |
25 - 90%
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Cash & Short-term Investments (e.g.bills and deposits) |
0 - 20%
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Geographic Allocation |
United States and Greater China
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40 - 100%
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Other Asia
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0 - 50%
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Europe
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0 - 50%
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Other Countries
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0 - 50%
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Risk / Return Profile# |
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** Principal Long Term Guaranteed Fund
Principal, the Guarantor of the Principal Long Term Guaranteed Fund under this Scheme, will only provide a guarantee of capital and a prescribed guarantee rate of return in certain specified circumstances. Your investments are subject to the credit risk of Principal.
The guarantee of capital and return will only be offered if the contributions in the fund are withdrawn upon the occurrence of a "qualifying event", which is the receipt by the Trustee of a valid claim of all the accrued benefits of the member upon satisfying any of the following conditions:
(a) Attainment of the normal retirement age or retirement at or after the early retirement age but before the normal retirement age
(b) Total incapacity
(c) Terminal illness
(d) Death
(e) Permanent departure from Hong Kong
(f) Claim of "small balance"
The above conditions (a) to (f) apply to employee members, self-employed persons, existing Special Voluntary Contributions members and "personal account members".
(g) Termination of the member's employment (regardless of the reason of termination) and the continuous period for which the member has been investing in the fund up to and including the last date of his employment ("qualifying period") is at least 36 complete months. The qualifying period in respect of a member will also be re-set to zero if the member (or his personal representative) effects a redemption, switching out or withdrawal of the units of the fund other than upon the occurrence of a qualifying event. For the avoidance of doubt, condition (g) does not apply to self-employed persons or personal account members.
If a redemption, switching out or withdrawal of units of the fund is effected by a member other than upon the occurrence of a qualifying event as stated above, the guarantee will be affected and the member's investments in this fund will be subject to market fluctuation and investment risks. Please refer to the MPF Scheme Brochure under the section "Provision of Guarantee" for details of the guarantee conditions.

Principal MPF Conservative Fund*** |
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Investment Objective |
To at least earn a net return equal to the "prescribed savings rate" (which is broadly the average rate of interest on a Hong Kong dollar savings account) determined by the MPFA. |
Balance of Investments |
Invest in a unit trust Approved Pooled Investment Fund ("Unit Trust APIF") which will consist of a portfolio of bank deposits, short duration securities and high quality money market instruments denominated in Hong Kong dollars.
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Asset Allocation |
Certificates of Deposit |
0 - 95%
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Debt Securities |
0 - 95%
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Cash & Short-term Investments (e.g. bills and deposits) |
0 - 100%
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Geographic Allocation |
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Risk / Return Profile# |
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*** Principal MPF Conservative Fund
Principal MPF Conservative Fund under this Scheme is not a guaranteed fund and does not guarantee the repayment of capital. Fees and charges of MPF conservative fund can be deducted from either (i) the assets of the fund or (ii) members' account by way of unit deduction. This Fund uses method (i) and, therefore, unit prices/net asset value/fund performance quoted have incorporated the impact of fees and charges.

Principal HK Dollar Savings Fund |
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Investment Objective |
To earn a competitive short-to-medium term rate of return. |
Balance of Investments |
Invest in a Unit Trust APIF which will invest in a portfolio of high quality Hong Kong dollar short-to-medium duration debt securities. The Unit Trust APIF may also hold assets denominated in US dollars or other currencies.
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Asset Allocation |
Short-to-medium Duration Debt Securities (e.g. certificates of deposits) |
60 - 100%
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Cash & Short-term Investments
(e.g. bills and deposits) |
0 - 40%
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Geographic Allocation |
Hong Kong
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70 - 100%
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United States
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0 - 30%
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Europe
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0 - 30%
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Others
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0 - 20%
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Risk / Return Profile# |

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Note: Investment in the Principal HK Dollar Savings Fund is different from placing deposits with a bank or deposit-taking company and is not protected by the Deposit Protection Scheme. Investments in this Fund will be subject to investment risks.

Principal Hong Kong Bond Fund |
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Investment Objective |
To provide a return consisting of income and capital growth over medium to long term. |
Balance of Investments |
Invest in a Unit Trust APIF which will primarily invest at least 70% of its assets in Hong Kong debt securities (rated or unrated^ ), including (but not limited to) sovereign and/or non-sovereign, floating and/or fixed, of varing maturities issued by the government or by multi-lateral agencies or by companies, and denominated in Hong Kong dollars.
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Asset Allocation |
Debt Securities |
70 - 100%
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Cash & Short-term Investments(e.g.bills and deposits) |
0 - 30%
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Geographic Allocation |
Hong Kong |
70- 100%
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Other
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0 - 30%
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Risk / Return Profile# |
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^ Investment in unrated debt securities is only limited to those issued by the "exempt authority" within the definition of Section 7 of Schedule 1 to the MPF Regulation.

Principal International Bond Fund |
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Investment Objective |
To protect and maximise real asset value in terms of international purchasing power. |
Balance of Investments |
Invest in a Unit Trust APIF which will in turn invest in another APIF which invests mainly in a portfolio of debt securities, both sovereign and non-sovereign, of varying maturities and denominated in the world's major currencies.
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Asset Allocation |
Debt Securities |
70 - 100%
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Cash & Short-term Investments (e.g. bills and deposits) |
0 - 30%
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Geographic Allocation |
Asia (ex-Japan) |
0 - 50%
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Europe |
0 - 50%
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Japan |
0 - 50%
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North America |
15 - 85%
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Other Countries (each) |
0 - 20%
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Risk / Return Profile# |

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Principal Stable Yield Fund |
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Investment Objective |
To seek long-term growth of capital through investing in a balanced portfolio. |
Balance of Investments |
Invest in a Unit Trust APIF which will in turn invest in two or more APIFs and/or ITCIS. Through these underlying investments, the fund will invest primarily in equities and debt securities of different countries. The fund will provide an international exposure with relatively more emphasis on debt investments.
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Asset Allocation |
Equity Securities |
0 - 60%
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Debt Securities |
20 - 90%
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Cash & Short-term Investments (e.g.bills and deposits) |
0 - 30%
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|
Geographic Allocation |
Asia |
0 - 75% |
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South America |
0 - 10%
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Europe |
0 - 75% |
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Africa/ Middle East |
0 - 10%
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North America |
0 - 80% |
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Others |
0 - 20% |
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Risk / Return Profile# |

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Principal Asian Bond Fund |
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Investment Objective |
To provide a return consisting of income and capital growth over medium to long term. |
Balance of Investments |
Invests in a unit trust APIF. The APIF in turn invests in another APIF which invests a majority of its assets in Asian debt securities, including but not limited to sovereign, quasi-sovereign, agency, corporate bonds, of varying maturities issued by the government, multi-lateral agencies or by companies, and denominated primarily in U.S. dollars and major Asian currencies.
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Asset Allocation |
Debt Securities |
70 - 100%
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Cash & Time Deposits |
0 - 30%
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Geographic Allocation |
Asia¹ |
70 - 100% |
Others² |
0 - 30%
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Risk / Return Profile# |

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* The geographical allocation for debt securities of the Principal Asian Bond Fund is classified by country of risk. “Country of risk” is based on a number of criteria, including, in respect of a security, its issuer's country of domicile, the primary stock exchange on which it trades, the location from which the majority of its issuer's revenue comes, and its issuer's reporting currency.

Principal Long Term Accumulation Fund |
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Investment Objective |
To earn a competitive long-term total rate of return through investing in a balanced portfolio. |
Balance of Investments |
Invest in a Unit Trust APIF which will in turn invest in two or more APIFs and/or ITCIS.
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Asset Allocation |
Equity Securities |
20 - 80%
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Debt Securities |
15 - 75%
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Cash & Short-term Investments (e.g.bills and deposits) |
0 - 20%
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Geographic Allocation |
United States
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15 - 100%
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Asia
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0 - 85%
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Europe
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0 - 30%
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Others
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0 - 20%
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Risk / Return Profile# |
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Principal Global Growth Fund |
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Investment Objective |
To seek long-term growth of capital through investing in a balanced portfolio. |
Balance of Investments |
Invest in a Unit Trust APIF which will in turn invest in two or more APIFs and/or ITCIS. Through these underlying investments, the fund will invest primarily in equities and debt securities of different countries. The fund will normally target a larger allocation to equity investments than debt securities.
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Asset Allocation |
Equity Securities |
30 - 90%
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Debt Securities |
10 - 70%
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Cash & Short-term Investments (e.g. bills and deposits) |
0 - 30%
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Geographic Allocation |
Asia |
0 - 75% |
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South America |
0 - 10%
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Europe |
0 - 75% |
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Africa/ Middle East |
0 - 10%
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North America |
0 - 80% |
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Others |
0 - 20% |
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Risk / Return Profile# |

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Principal U.S. Equity Fund |
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Investment Objective |
To achieve capital growth over the long-term by investing in U.S. equity markets.
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Balance of Investments |
Invest in a Unit Trust APIF which will in turn invest in another APIF which consists primarily of U.S. equities and can include exposure to cash and short-term investments.
|
Asset Allocation |
Equity Securities |
70 - 100%
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Cash & Short-term Investments (e.g.bills and deposits) |
0 - 30%
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Geographic Allocation |
United States |
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70 - 100%
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Hong Kong |
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|
0 - 30%
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Others |
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|
0 - 20%
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Risk / Return Profile# |

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Principal Asian Equity Fund |
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Investment Objective |
To achieve capital growth over the long-term by investing in Asian equity markets. |
Balance of Investments |
Invest in a Unit Trust APIF which will in turn invest in another APIF which consists primarily of Asian equities and can include exposure to cash and short-term investments.
|
Asset Allocation |
Equity Securities |
70 - 100%
|
Cash & Short-term Investments (e.g.bills and deposits) |
0 - 30%
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Geographic Allocation |
Asia (ex-Japan) |
80 - 100%
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Others |
0 - 20%
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Risk / Return Profile# |

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Principal China Equity Fund |
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Investment Objective |
To achieve capital growth over the long term by investing mainly in China-related equities. |
Balance of Investments |
Invest in a Unit Trust APIF which will invest primarily in equities issued by companies with exposure in different sectors of economies in People's Republic of China (Mainland China). A majority of the equities will be listed on the Hong Kong Stock Exchange and may include exposure to stocks listed on other exchanges within the applicable regulatory limits. |
Asset Allocation |
Equity Securities |
70 - 100%
|
Cash & Short-term Investments (e.g.bills and deposits) |
0 - 30%
|
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Geographic Allocation |
People's Republic of China (Mainland China)
|
70 - 100%
|
Other countries
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0 - 30%
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Risk / Return Profile # |
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Principal Hang Seng Index Tracking Fund |
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Investment Objective |
To provide investment results that closely correspond to the performance of the Hang Seng Index through investing all or substantially all of the fund's assets in units of The Tracker Fund of Hong Kong. |
Balance of Investments |
Invest in The Tracker Fund of Hong Kong, which will in turn invest all or substantially all of its assets in equity securities listed on the Hong Kong Stock Exchange Limited.
|
Asset Allocation |
90 – 100% in equity securities; 0 – 10% in cash and short term investments |
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Geographic Allocation |
Hong Kong
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20 - 80%
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China
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20 - 80%
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Risk / Return Profile# |
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Principal Hong Kong Equity Fund |
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Investment Objective |
To achieve capital growth over the long-term by investing mainly in Hong Kong equity markets. |
Balance of Investments |
Invest in a Unit Trust APIF which will invest primarily in listed equities issued by companies established in Hong Kong or by companies whose shares are listed in Hong Kong. The APIF may also invest in listed equities issued by companies which have business in Hong Kong. The fund may hold cash and short-term investments. |
Asset Allocation |
Equity Securities |
70 - 100%
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Cash & Short-term Investments (e.g.bills and deposits) |
0 - 30%
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Geographic Allocation |
Hong Kong / China
|
70 - 100%
|
Others
|
0 - 30%
|
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Risk / Return Profile# |
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Principal International Equity Fund |
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Investment Objective |
To seek capital growth over the long-term through investing mainly in equity markets around the world. |
Balance of Investments |
Invest in a Unit Trust APIF which will in turn invest in another APIF which consists of mainly equity securities selected from investment markets around the world and can include exposure to cash and short-term investments.
|
Asset Allocation |
Equity Securities |
70 - 100%
|
Cash & Short-term Investments (e.g.bills and deposits) |
0 - 30%
|
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Geographic Allocation |
Europe |
0 - 60% |
|
North America |
0 - 65%
|
Asia |
0 - 50% |
|
Middle East |
0 - 20%
|
South America |
0 - 50% |
|
Africa |
0 - 20% |
Others |
0 - 20% |
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Risk / Return Profile# |

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Principal Aggressive Strategy Fund |
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Investment Objective |
To seek long-term growth of capital through investing entirely in an Approved Pooled Investment Fund ("APIF"). |
Balance of Investments |
Invest in an APIF (in the form of a unit trust), which will in turn invest in two or more APIFs and/or Approved ITCISs. Through these underlying investments, the fund will invest primarily in equities and debt securities of different countries. The fund will provide an international exposure for investors' monies, with relatively more emphasis on equity investments.
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Asset Allocation |
Equity Securities |
60 - 100%
|
Debt Securities
|
0 - 40%
|
Cash & Short-term Investments (e.g.bills and deposits)
|
0 - 30%
|
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Geographic Allocation |
Asia Pacific
|
0 - 75%
|
Europe
|
0 - 75%
|
North America
|
0 - 80%
|
South America
|
0 - 10%
|
Africa / Middle East
|
0 - 10%
|
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Risk / Return Profile# |
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NOTE:
Investors should note that (i) the above ranges of asset and geographic allocations are for indication only and long term allocations may vary with changing market conditions; and (ii) the geographic allocation for equity investments is classified by the principal place of business of the issuers and the geographic allocation for debt investments (except for Principal Asian Bond Fund) is classified by their currency denomination.
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