China, as commentators have been saying for some time, will grow old before it grows rich. This demographic time bomb has even been referred to as China’s Achilles heel. But Howhow Zhang, head of research at Z-Ben Advisors, a Shanghai-based consultancy, sees it as a huge opportunity for both foreign and domestic fund managers.
In a report last month, Z-Ben forecast that assets under management in China’s pension system will “balloon” from Rmb7.4tn ($1.2tn) at the end of 2012 to Rmb28tn by 2020.
It sees growing opportunities for foreign managers from each of China’s three broad sectors of the pensions industry: the National Social Security Fund (NSSF), enterprise annuities (EA), and the insurance industry.
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