Hospital Authority to review fixed income

It plans to send RFPs to consultants as early as this week.

The Hospital Authority in Hong Kong is preparing to send requests for proposals RFPs to investment consultants to assist it with a review of its fixed income and currency strategy for its $2.5 billion MPF-exempt ORSO pension scheme.

Winnie Pao, director of investment supervision, says the programme has been transformed to a members' choice scheme as of 1 October. Before, although the plan has always been defined-contribution, the Authority offered only one fund to the approximately 39,000 members. The pension fund's trustees felt that a members' choice was required in part because older members were concerned about a high equities exposure as they neared retirement.

She made her remarks...

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