Fidelity International has revealed a strategic partnership with one of China’s largest fund managers aiming to fill a gap in the country’s embryonic private pensions system. The new fund, called China Private Pension Investment Management Co., will be managed by Fidelity, which is also working on an investment vehicle for Chinese pension funds. China’s The partnership will see "Fidelity International act as research consultant providing advice on research work of ChinaAMC's target-date funds," including leveraging Fidelity's experience in areas such as the design of the target-date fund asset allocation glidepath, according to a joint news release. millennials face a pension shortfall, according to new research conducted by Fidelity and Ant Fortune, just 44% of millennials in China have begun putting money towards their pension savings underscoring the generation's lack of retirement planning.
Fidelity International has revealed a strategic partnership with one of China’s largest fund managers aiming to fill a gap in the country’s embryonic private pensions system. The new fund, called China Private Pension Investment Management Co., will be managed by Fidelity, which is also working on an investment vehicle for Chinese pension funds. China’s millennials face a pension shortfall, according to new research conducted by Fidelity and Ant Fortune, just 44% of millennials in China have begun putting money towards their pension savings underscoring the generation's lack of retirement planning.