Hong Kong regulator prods pension funds on US rating downgrade implications
Hong Kong's pensions regulator has told the city's pension funds they may need to adjust their investment portfolios to reflect the impact of a downgrade to the U.S. sovereign credit rating, according to a statement. Ratings agency Moody's cut America's pristine sovereign credit rating by one notch earlier this month, the last of the major ratings agencies to downgrade the country, citing concerns about the nation's growing $36 trillion debt pile. Pension funds regulated by Hong Kong's Mandatory Provident Fund (MPF) Schemes...
