Manulife initiates Macau pension fund scheme

22 January 2014   Category: News, Asia, Hong Kong, Macau   By Asia Asset Management

In a bid to meet the needs of Macau’s companies in giving retirement protection to their employees, Manulife (International) Limited has announced the launch of a new pension scheme – the Manulife (Macau) Pension Fund Scheme – effective January 1 this year. It comprises five open pension funds with different investment objectives and risk/return levels, catering for the diverse investment appetites and retirement needs of employees.

“Macau people enjoy a very long lifespan and many of them are becoming increasingly aware of the need for retirement planning. By offering a pension fund scheme that complements the benefits package their companies offer, Macau employers may attract and retain quality employees, enhance morale and build loyalty while also enjoying tax benefits on contributions made to pension funds,” said Luzia Hung, vice president of employee benefits, Manulife (International) Limited.

“Manulife has more than 77 years of unparalleled pension management experience in Hong Kong. Drawing on this success and being the second largest Mandatory Provident Fund (MPF) provider in terms of assets under management (AUM), we are now introducing a new pension scheme in Macau with diversified fund choices to help people there achieve their desired retirement goals.”

A diversity of fund choices

The scheme is composed of five open pension funds specially tailored to the Macau market, spanning various investment objectives and risk appetites. They are: “Pacific Asia Bond Fund (Macau)”, “Stable Growth Fund (Macau)”, “Balanced Fund (Macau)”, “HK & China Equity Fund (Macau)” and “Healthcare Fund (Macau)”. Both the “Pacific Asia Bond Fund (Macau)” and “Healthcare Fund (Macau)” are unique in the local pension market. The “Pacific Asia Bond Fund (Macau)” will invest in bonds from the Asia-Pacific region, including RMB bonds, while the “Healthcare Fund (Macau)” is the only sector fund in Macau investing in pharmaceutical products.

The five funds in the scheme encompass a wide array of investment options, which include a bond fund, an equity fund, a sector fund and two mixed assets funds. Companies of different sizes are able to ride on this diversified fund platform to cater to the varying retirement needs of their employees.