FTSE claims Hong Kong pension fund victories

The battle among index vendors to win the hearts and minds of Hong Kong''s pension funds heats up.

The HK$30 billion $3.8 billion Subsidized Schools Provident Fund has shifted its benchmark for two allocations, a Hong Kong equities and a developed markets fund, from MSCI to FTSE indices, says Mark Makepeace, FTSE's CEO. This latest victory makes it the tenth Hong Kong pension fund with over HK$500 million in assets to start following FTSE indices since last year when FTSE became the benchmark for Mandatory Provident Fund scheme performance measurement, he adds.

Selecting an index vendor is becoming an important part of pension funds' overall risk management and asset allocation process. Pension funds are specifying what benchmarks their investment managers use more actively, Makepeace says. We're spending more time...

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