Wall Street Journal: Ray Chou On China’s Pension Market
June 01, 2021
As the world’s biggest asset managers gear up to make inroads into China’s mutual-fund industry, Invesco Ltd. IVZ 2.98% has its eyes on a different prize. “The whole replacement ratio has been declining and yields need to improve. It's imperative for the social-security fund to onboard new professional managers,” said Ray Chou, a Hong Kong-based partner at consulting firm Oliver Wyman, referring to the percentage of a worker's preretirement income that is paid out by a pension plan upon retirement.
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