Trustees compete in MPF bun-fight

If two is competition, twenty-one is definitely a crowd. That's the number of financial institutions in Hong Kong waging battles to be the dominant trustees in the potentially lucrative Mandatory Provident Fund (MPF) market. Fund managers are hoping the MPF market will inject as much as HK$30 billion (US$3.8billion) a year into their portfolios come December 1, 2000 when the city's 300,000 employers are required to begin contributing 5% of their workers' salary to retirement funds. HS…