HSBC fund arm eyes mainland China pension market, new Silk Road projects
HSBC Global Asset Management is planning to expand into more Asian markets with a focus on pension fund management and infrastructure investments arising from Beijing’s new Silk Road projects, according to the regional head of the company.
The company, part of HSBC Holdings, reported that assets under distribution in Asia in the first half grew 17 per cent year on year to US$161 billion.
Assets under management – or the amount of funds invests in Asia – stood at US$131.4 billion as of the end of June.
“Pension and wealth management will be the major focus of our expansion in Asia in the coming years,” Bastos said in an exclusive interview with the South China Morning Post.
The asset management firm is the investment manager for all MPFs under HSBC, the largest Mandatory Provident Fund provider in Hong Kong with a market share of almost 30 per cent, according to the Gadbury Report, which tracks MPF data.
Read full news here: South China Morning Post
