CCB Pension wins EA licence as PPF gathers momentum
The firm is the first since 2007 to win a licence to run enterprise annuity money in China, but must now build a team, as asset managers eagerly await mainland public pension fund reforms.
China Construction Bank Pension Management (CCB Pension) has won a licence to manage Chinese enterprise annuity assets – the first handed out since 2007 – as Beijing’s public pension fund (PPF) reform gathers momentum.
Meanwhile, fund managers are eyeing potential business, as China's National Council for Social Security Fund (NCSSF) is set to grow into a retirement asset pool rivalling Japan's $1.2 trillion Government Pension Investment Fund. NCSSF was $234 billion in size as of…
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