Schroder Investment Management (Hong Kong) Limited (“Schroders”) and Sun Life Hong Kong Limited (“Sun Life”) are pleased to announce they have entered into a strategic relationship for Schroders’ Mandatory Provident Fund (“MPF”) business, which will provide enhanced customer support to clients of the Schroder MPF Master Trust (“Scheme”). The Scheme had assets under management of HK$1.3 billion at March 31, 2016.
Under the strategic relationship, the sponsorship of the Scheme will be transferred to Sun Life and the name of the Scheme will be changed to Sun Life MPF Master Trust. Schroders will continue as the investment manager of the Scheme, and Sun Life will be dedicated to serving members of the Scheme. With the combined expertise of two global organizations, Schroders and Sun Life will continue to enhance the Scheme to deliver better value for its members.
Schroders has been providing asset management services for pension clients in Hong Kong for over 40 years, and this will remain an integral part of its business. This strategic relationship allows Schroders to focus on its core strength as an investment manager. Sun Life is a fast growing MPF provider with the highest growth in market share over the past five years.1
Lieven Debruyne, CEO, Hong Kong, Schroders, said:
“Schroders has been providing asset management services for pension clients in Hong Kong for more than four decades. We were one of the first fund providers when the MPF scheme was launched in 2000. As a trusted investment manager in the retirement business, being an MPF fund provider is core to our business in Hong Kong. Our strategic relationship with Sun Life will enable us to continue to grow our MPF offerings, and to focus on our core strength as an investment manager.”
Belinda Luk, Senior Vice President, Pensions & Group Business, Sun Life, said:
“We look forward to welcoming the MPF clients from Schroders to Sun Life. Sun Life has a history of more than 120 years in Hong Kong during which time we have focused on providing our clients with strong advice that helps them achieve lifetime financial security. This approach has helped us win numerous awards and establish a strong position in the MPF market. We are excited about the strategic relationship with Schroders, and adding scale to our MPF business will enable us to enhance the service and value we provide to our clients.”
The above change is expected to be completed in the second half of 2016, subject to the receipt of regulatory approvals.
1 Market share growth based on Assets Under Management (AUM) growth from 2010 to 2015. Source: The Gadbury MPF Market Shares Report.
Important information
The views and opinions contained herein are those of Schroders’ investment teams and/or Economics Group, and do not necessarily represent Schroder Investment Management North America Inc.’s house views. These views are subject to change. This information is intended to be for information purposes only and it is not intended as promotional material in any respect.