Category: Uncategorized

Sep 01 2020

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Departing HK residents withdraw $167mln in pension funds in Q1, up 32% y/y

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Hong Kong residents leaving the city for good withdrew an aggregate HK$1.295 billion ($167.1 million) from their Mandatory Provident Fund (MPF) pension accounts in the first quarter of 2020, up...

Aug 27 2020

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Vanguard to close Hong Kong and Japan fund businesses

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Vanguard Group, the world’s second largest money manager, will withdraw from Hong Kong and Japan and move its Asian headquarters to Shanghai. Vanguard’s Hong Kong operations include the offering of...

Aug 27 2020

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Ant Group’s mega IPO will reward staff and early investors, including the businesses of two of Hong Kong’s wealthiest families

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Ant Group’s upcoming dual listing, likely to be the largest in global financial history, will reward the staff and early investors of the world’s biggest fintech company, including companies …

Aug 26 2020

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Ontario Teachers’ Pension Plan records small loss in first half of 2020

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Plan’s leaders say they’ve cashed out much of their bond portfolio and are planning on redeploying assets as part of their long-term plans under new CEO …

Aug 20 2020

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Aging Asia investors turn to income funds to preserve nest eggs

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Workers preparing for retirement in Hong Kong and Singapore have turned to income funds that offer regular payments instead of taking their pension savings in a lump sum. That’s becoming...

Aug 20 2020

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Hong Kong leader Carrie Lam tells major supermarkets ParknShop and Wellcome: if you want Covid-19 cash you must cut your prices

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Under phase one, elderly workers had been required to provide proof of earnings or employer contributions to their pension to be eligible for a HK$9,000 monthly payout. Hong Kong unveils...

Aug 20 2020

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Hong Kong’s Benchmark Index Poised to Include Tech Giant Alibaba

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Alibaba Group Holding Ltd. will be included in Hong Kong’s Hang Seng in one of the biggest revamps in the benchmark index’s 50-year history.

Aug 12 2020

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Hong Kong Investor, NPS Seek Buyer for Shanghai Mall

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Hong Kong real estate investor Phoenix Property Investors HK Ltd. and South Korea’s National Pension Service are considering selling a shopping mall they jointly own in Shanghai, according to people...

Aug 06 2020

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Hong Kong Close to Picking Winner to Digitize Pension System

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Hong Kong has shortlisted finalists to digitize its retirement funds system, according to people familiar with the matter, paving the way to lower fees for more than 4 million savers.

Aug 05 2020

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Mandatory Provident Fund posts best returns in three months, scoring each Hongkonger HK$11,136 in July

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Pacific markets provided the best returns of 8.8 per cent in July as they were boosted by the Shanghai and Hong Kong stock markets.