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Hospital Authority Provident Fund Scheme
The Hospital Authority Provident Fund Scheme operates as a defined contribution pension plan serving employees of Hong Kong's Hospital Authority.
Hospital Authority Provident Fund Scheme
The Hospital Authority Provident Fund Scheme operates as a defined contribution pension plan serving employees of Hong Kong's Hospital Authority. It delivers lump-sum retirement benefits drawn from member and employer contributions plus investment returns. The statutory body Hospital Authority established the scheme. The scheme maintains a Global Equity Fund alongside a Global REITs allocation that accounts for 7.8 percent of that equity sleeve. It also holds hedge fund of funds exposure through external managers. Confirmed holdings include Quellos Group Fund of Funds and Financial Risk Management Fund of Funds. Geographic reach covers Hong Kong-listed names and major US and European equities. Assets total $10.4 billion. The scheme works with multiple external managers including BlackRock, Manulife and Fidelity. It maintains membership in the Hong Kong Investment Funds Association and the Hong Kong Retirement Schemes Association. Doris Ho served as Executive Director until September 2024. The scheme sits under direct oversight of the Hospital Authority, which also maintains the separate Hospital Authority Charitable Foundation focused on public hospital support.
General information
Firm type
Pension Fund
Year founded
1991
Location
Region
Asia
Country
Hong Kong
City
Hong Kong
Principals
Philip Tsai Wing-chung
Chairman of the Board of Trustees
Doris Ho
Executive Director
Sector focus
Frequently asked questions
Who runs investment decisions at Hospital Authority Provident Fund Scheme?
Philip Tsai Wing-chung serves as Chairman of the Board of Trustees. Doris Ho acted as Executive Director until September 2024. External managers including BlackRock and Manulife execute day-to-day portfolio decisions.
Does Hospital Authority Provident Fund Scheme participate in fund commitments or only direct deals?
The scheme allocates to hedge fund of funds and holds individual public equities. It maintains limited partner positions in Quellos Group Fund of Funds and Financial Risk Management Fund of Funds.
What investment stages does Hospital Authority Provident Fund Scheme typically target?
The scheme focuses on public market equities and real estate investment trusts. It does not target early-stage venture or private equity stages.
Where does the underlying wealth come from?
Assets derive from mandatory and voluntary contributions by Hospital Authority employees and the authority itself. Investment returns accumulate within the defined contribution structure.
How is Hospital Authority Provident Fund Scheme related to Hospital Authority?
The Hospital Authority established the scheme and continues to oversee it as the statutory body responsible for public hospitals in Hong Kong.
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