Hong Kong pension funds to benchmark against FTSE

European managers have trumped their North American peers in the fight to use FTSE instead of MSCI as the benchmark for Hong Kong pension funds.

The Hong Kong Investment Fund Association HKIFA has decided to use the FTSE All World Index as a benchmark for managers of retirement funds under the city's incoming Mandatory Provident Fund MPF scheme, ruffling some North American managers in the rival MSCI camp.

According to presentations made to fund managers by Watson Wyatt and Micropal, who jointly advise the investment fund body on which index to use, roughly half of Hong Kong's indexers track FTSE while the rest chase...

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