HK's MPF

Hong Kong pension battle kicks off

Principal's purchase of AXA’s HK retirement savings unit signals start of fight for HK’s HK$514 billion pension nest egg as fees fall.

The US’s Principal Financial Group has won the fiercely contested auction for Axa's retirement savings unit in Hong Kong for $335 million, as the fight to manage pensions in the aging territory intensifies.

¬ Haymarket Media Limited. All rights reserved.

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