Deutsche AM: Hot Asian equities have room to run
Asian equity markets are up, but they are not in a bull market, according to Sean Taylor, Deutsche Asset Management’s Hong Kong-based managing director and Asia Pacific chief investment officer.
Author: Francis Nikolai Acosta
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Hong Kong’s private wealth assets grow by 9%
Hong Kong’s private wealth management assets reached HK$5.2trn (£513.2bn, $665bn, €578.9bn) in 2016, growing by 9% and increasing their share of the overall fund management business in the territory, according to a report by the Securities and Futures Commission.
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China’s Lufax launches offshore retail platform in Singapore
Lu International, a subsidiary of Shanghai-based wealth manager Lufax Holdings, is launching its first direct-to-consumer online investment platform for Chinese overseas retail clients.
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Aberdeen launches multi-asset funds in Singapore
Aberdeen Asset Management has launched two multi-asset funds in Singapore, the firm’s first such funds to be offered in the city-state.
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Deutsche AM terminates 16 Hong Kong ETFs
Deutsche Asset Management is delisting 16 ETFs in Hong Kong, cutting the number of exchange-traded funds it has listed in the special administrative region in half, according to data from the Hong Kong Exchange and Clearing.
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Singapore watchdog restores ‘mystery shoppers’ for advisers
The Monetary Authority of Singapore (MAS) will be sending mystery shoppers to financial advisers as part of its efforts to boost enforcement, according to Merlyn Ee, the regulator’s executive director for capital markets intermediaries.
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Singapore’s asset management industry up 7% in 2016
Singapore’s asset management industry saw healthy growth of 7% last year, with managed assets hitting S$2.7trn ($1.96trn, $2.5trn, €2.23trn), according to new figures from the Monetary Authority of Singapore (MAS)
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Hong Kong top Asian city for attracting ultra-wealthy
Hong Kong has the most number of ultra-high net worth (UHNW) individuals in Asia and globally it ranks second, according to the Wealth-X 2017 ultra wealth report.
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Philippine HNWIs maintain strong home bias
A preference for local investment products limits investor allocation to feeder funds, according to industry sources.
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The problem with Asian fund passport schemes
Regulatory and tax squabbles and the desire to deepen domestic fund industries are some of the high hurdles for passporting programmes, says Daniel Caleghin, head of wealth management strategy for Asia-Pacific at Deloitte subsidiary Casey Quirk.
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OCBC opens Indonesia wealth unit amid tax amnesty success
Singapore’s OCBC Bank has launched an onshore private banking business, spurred by Indonesia’s tax amnesty.
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Majority of emerging markets funds in Asia underperform
More than half of emerging market equity funds available for sale in Hong Kong and Singapore underperform the MSCI Emerging Markets Index, FE data shows.