Allianz Global Investors and Manulife International have announced a partnership to target Hong Kong investors and the mandatory provident fund (MPF) market.
Under the terms of the agreement, Manulife will sponsor Allianz GI’s MPF Plan while Allianz will retain its role as the scheme’s investment manager and will continue to offer investment products through Manulife’s MPF platform.
The collaboration will mean that Manulife will hold a 25.6% share in Hong Kong’s MPF market, according to its assets under management as of September 30.
“We will continue to seek more meaningful results to our MPF clients and to contribute to the development of Hong Kong pension market, as it is our core proposition to generate long-term value for our clients in Hong Kong," said Desmond Ng, head of Asia-Pacific at Allianz GI.
"This move aligns with our commitment to offering an extensive range of fund choices that can best serve the different investment appetites and deliver great value to all MPF clients,” added Michael Dommermuth, head of wealth and asset management for Asia at Manulife Investment Management.
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