5 minute read
Working together to build better financial futures
With more than 50 years of global investment management experience, Fidelity International has a history of notable innovation and provides best-in-class investment solutions that have helped it become one of the largest retirement asset management firms in Hong Kong and the largest investment service provider in the occupational retirement schemes ordinance (ORSO) market, in terms of asset under management.
Fidelity has been active in Hong Kong since 1981, with more than 400 employees in its Hong Kong office offering retail, institutional and wholesale clients a wide range of products and services, including mandatory provident fund (MPF) and ORSO schemes, personal investing and mutual funds. The services provided are designed to help clients achieve their financial aspirations.
The company vision is to build better financial futures for its clients. “It is also our focus to give people the power to achieve and stay in great financial health throughout every stage of their lives,” said KP Luk, head of Hong Kong at Fidelity International.
In 2020, Fidelity received more than 30 awards, solidifying its position as one of the most awarded fund managers in Hong Kong and reflecting its investment capability, performance and diversified solutions, and the outstanding services delivered by the teams in Hong Kong and across the region.
Because of its multiple achievements and success in assisting its clients, the company was also awarded with Hong Kong Business High Flyers Award in the Financial Services category.
Digital transformation
With the acceleration in digital transformation brought about by the pandemic, digital innovation is now considered a global business trend. Fidelity understands the need to adapt and change, and has thus invested in enhancing digital channel engagement with quality services provided to stakeholders, and is making use of mobile digital tools to help clients manage their portfolios and understand their financial wellness status.
Fidelity has taken extra steps to help its members by extending its services to online channels so they could stay on top of their accounts during the outbreak.
The firm has devoted resources to drive channel innovation by (1) introducing a digital application journey in its brand-new SmartRetire mobile app; (2) using the most up-to-date identity verification technology to facilitate Tax Deductible Voluntary Contributions (TVC) account opening in simple steps and (3) enabling clients to make contribution payment instantly via Faster Payment System (FPS) on top of traditional means. Leveraging on its global thought leadership expertise, Fidelity has brought together a financial wellness journey, where members can get their financial wellness scores and understand personal performances across four major financial wellness domains.
FAST FACTS
• More than 50 years of global investment management experience, with our services reaching customers in over 25 locations worldwide • Active in Hong Kong since 1981, offering retail, institutional and wholesale clients a wide range of products and services, including
MPF and ORSO schemes, personal investing and mutual funds • One of the largest retirement asset management firms in Hong
Kong and the largest investment service provider in the ORSO market in terms of AUM • Awarded the ‘Best MPF Scheme of the Year’ in five of the past eight years by an independent thirdparty rating agency
This page: (1) Fidelity Retirement Savings Guidelines: Rules of thumb to help people plan for their retirement; (2) SmartRetire mobile app; (3) CSR event with Hong Kong Rugby Union Community Foundation
Opposite page: KP Luk, Head of Hong Kong, Fidelity International
Engaging clients in the new normal
With lockdowns and social restrictions, Fidelity has changed its way of engaging with its clients and members. The firm has moved to online webinars to provide clients with more flexibility and convenience. Fidelity’s aim is to help MPF members plan and make informed decisions for their retirement, and thus offering a different set of handy widgets in its Retirement Savings Guideline. What’s more, a comprehensive Global Retirement Survey was introduced in 2020, allowing clients for a pulse check to see whether they are on track to maintain their pre-retirement lifestyle in retirement and provides key actions that may help workers improve their retirement readiness.
Giving back to the community
“As a socially responsible company, we care about our community. We have a dedicated CSR Committee that leads various charitable events and volunteering opportunities for our employees,” said KP Luk. This is evident in their initiatives and projects; for example in 2019, the Fidelity team helped reduce waste by helping sort 2,910kgs of surplus food–equivalent to 6,937 meals–for Feeding Hong Kong to redistribute to those in need. The Hong Kong team also formed a rugby team that played for a good cause in a one-day tournament and raised funds for Hong Kong Rugby Union Community Foundation supporting The Deaf Rugby Programme.
Diversity and Inclusion
Apart from giving back to the community, the company ensures a greater diversity of voices and fosters an inclusive environment in different levels. Fidelity is committed to building a culture where all employees feel welcomed, valued, and supported to thrive in their careers. In November 2019, the company achieved its gender balance target of 30% women in senior management globally, a year ahead of schedule. The company has also implemented new ways of working to build an agile family-friendly culture.
Moving forward
With an increasing retirement population in Hong Kong, the industry is exploring solutions on post-retirement products and services via digital channels. Fidelity aims to provide holistic post-retirement solutions, together with an all-round education and client engagement to serve their different needs.
Mr. Luk also notes that it is important to embed sustainable investing principles in Fidelity’s investment process and incorporate non-financial consequences into the process to create more positive outcomes to the environment and society, which leads to informed decisions and ultimately delivers better financial value and risk management for clients.
“We will continue to bring our best practices from our global counterparts into Hong Kong to drive innovation for customers,” KP Luk concludes.
