British asset manager Schroders will continue to expand in Hong Kong to tap Asia-Pacific’s fast-growing wealth-management and pension businesses, as its top boss believes market uncertainty brought on by the US-China trade war will increase demand for its services. “The tariff issues and trade challenges are going forward, but it would not affect our commitment…
On Thursday, the MPF reported a HK$34.8 billion investment return in the first quarter, according to data from MPF Ratings, an independent research firm. The MPF’s 379 constituent funds generated an average return of 2.7 per cent in the first quarter, the best performance since a 4.1 per cent gain in the first quarter of…
Finance ministers from developed Western economies would “be happy” to have Hong Kong’s level of deficits and reserves, economic experts have said, stressing that the city remains robust financially while having more room for bond issuances. The economists were speaking at a panel discussion on Monday at the Redefining Hong Kong Series 2025: Budget Edition…
The 4.75 million members of Hong Kong’s Mandatory Provident Fund (MPF) enjoyed a 13 per cent increase in their pension assets in 2024 thanks to the best investment returns in four years. The MPF earned a combined HK$102.4 billion (US$13 billion) last year, equivalent to HK$21,500 for each member, according to data from MPF Ratings,…
Homeless people sought temporary shelter overnight as temperatures fell in Hong Kong on Sunday night, although some street sleepers were left shivering outdoors. The Home Affairs Department opened 18 temporary shelters in various districts for people in need, as the Observatory issued a cold weather warning in the morning. The shelters, which offer mattresses, blankets…
Homeless people sought temporary shelter overnight as temperatures fell in Hong Kong on Sunday night, although some street sleepers were left shivering outdoors. The Home Affairs Department opened 18 temporary shelters in various districts for people in need, as the Observatory issued a cold weather warning in the morning. The shelters, which offer mattresses, blankets…
A Hong Kong transgender woman has lodged complaints with authorities for being forced to come out at her workplace by a major bank after it informed her employer of an inconsistency in her retirement fund application and its previous records. In an interview with the Post, 26-year-old Christine Chu said she had sent the HSBC…
A Hong Kong transgender woman has lodged complaints with authorities for being forced to come out at her workplace by a major bank after it informed her employer of an inconsistency in her retirement fund application and its previous records. In an interview with the Post, 26-year-old Christine Chu said she had sent the HSBC…
Hong Kong’s treasury chief has pledged to prioritise addressing user complaints aimed at the newly launched electronic pension platform after some employers and staff faced delays when updating contribution records or struggled to withdraw their funds. Secretary for Financial Services and the Treasury Bureau Christopher Hui Ching-yu said on Wednesday that any situation that affected…
Hong Kong police have arrested 11 people from a fraud syndicate that allegedly helped more than 800 residents withdraw HK$145 million (US$18.7 million) from their Mandatory Provident Fund (MPF) savings prematurely using fake documents. The force said on Friday that the racket operated in the Tsim Sha Tsui office of a financial consultancy firm as…