Players in Hong Kong's retirement funds industry are trying to revitalize an industry association that has been criticized for lacking teeth and direction. Although the Hong Kong Retirement Scheme Association HKRSA tried to raise key issues during the establishment of the Mandatory Provident Fund MPF programme, investment pros say it failed to get a coherent message across to the government.
This so damaged the association's credibility that frustrated MPF service providers tried setting up a new trade group to represent the industry, completely bypassing the HKRSA. Furthermore, it is also accused of being too industry focused and not having a broad enough participation base from companies and scheme members.
David Humphreys, CEO of provident...
