* The same unit price will be used for acquisition and realization of units for AXA MPF Conservative Fund.

** The AXA Guaranteed Fund of AXA MPF - Smart Plan (Smart Plan) invests solely in a single approved pooled investment fund in the form of an insurance policy issued by AXA China Region Insurance Company (Bermuda) Limited (Sponsor). The guarantee of the AXA Guaranteed Fund Policy, in which the AXA Guaranteed Fund of the Smart Plan invests, is given by the Sponsor. Your investments in this fund, if any, are therefore subject to the credit risks of the Sponsor. The guarantee applies in specified circumstances only. Please refer to Section 5.1(6) of the relevant offering document for details of the credit risk, guarantee features and guarantee conditions. Upon realisation of units in this fund other than under the guarantee conditions, the proceeds of realisation are subject to a reduction by the Sponsor of a certain percentage of the member's account balance (or the relevant part of the account balance). The rate of reduction is determined by the Sponsor at its sole discretion and can be changed by the Sponsor at any time. The current maximum rate of reduction is 5%. Subject to the approval of the Mandatory Provident Fund Schemes Authority (Authority), the maximum rate may be increased. For more information about the fund, please refer to offering document of Smart Plan or click here.

*** The guarantee of the Guaranteed Fund Policy is given by AXA China Region Insurance Company (Bermuda) Limited (the "Insurer"). Your investments in this insurance policy, if any, are therefore subject to the credit risks of the Insurer. The Insurer will only provide a guarantee of capital and a prescribed guarantee rate of return in certain specified circumstances. Upon realisation of units in this investment option other than under the guarantee conditions, the amount by which the Insurer may reduce the proceeds in respect of the realization of such units, at its absolute discretion, having regard to various factors including market conditions, the level of guarantee being provided, and market value of the underlying assets. The rate of reduction is not subject to any limit and can be imposed at the Insurer's absolute discretion. Please refer to the Appendix of relevant Principal Brochure for details of the guarantee features and guarantee conditions.
The rate of return of the Policy is determined by the Insurer at its absolute discretion through a declared crediting rate and is independent of the value of assets held in the Policy. The declared crediting rate is reviewed regularly by the Insurer having regard to various matters including actual return, value and nature of assets, the level of guarantee, investment and operating expenses, market conditions and taxes. The declared crediting rate for the past five (5) calendar years can be found in the relevant Principal Brochure.

^# Investment in AXA Cash Fund and AXA MPF Conservative Fund of Smart Plan; AXA MPF Conservative Fund of AXA MPF - Simple Plan and AXA MPF Conservative Fund of Prosperity MPF Master Trust Scheme are not equivalent to placing funds on deposit with a bank or deposit-taking company. A member's rights on redemption of any units held for the account of the member in these constituent funds are limited to the bid price of such units at the relevant time, which could be more or less than the offer price at which such units were purchased. These constituent funds are not subject to the supervision of the Hong Kong Monetary Authority. For further information, please refer to the relevant offering documents.

The prices of units of any constituent fund and the income may go down as well as up. Investment involves risk. Past performance information presented is not indicative of future performance. Please refer to the relevant Offering Documents/Principal Brochure for further details.