The UK has been a beneficiary of the globalisation of the fund management industry, according to new research from TheCityUK, with more than a third of funds under management in the UK, or around £2trn, coming from overseas clients.
The Hong Kong Federation of Insurers has launched a media campaign to counter recent “unbalanced and negative” attacks on Investment Linked Assurance Schemes by regulators and the media.
European investors are finally abandoning bond funds as they become increasingly nervous about the prospect of interest rate rises, according to the latest fund flow data from Morningstar, but emerging market equities and bonds have also been hit.
London has retained its position as the world’s best international finance centre, although its overall rating has fallen by more points than any other centre in the top 25, according to the 14th Global Financial Centres Index.
The European Securities and Markets Authority (ESMA) has published final guidelines on the reporting obligations for alternative investment fund managers under the new Alternative Investment Fund Managers Directive, launched in July.
The Indian government has confirmed that it is ploughing ahead with its general anti-avoidance (GAAR) rule, albeit in a more watered down form, according to reports, with the new tax rules set to come into force from April 2016.
Sukuk Issuance looks set to reach $100 billion, according to Standard& Poor’s rating service, although global economic fluctuations and structural issues may threaten to impede this growth.
Following months of speculation, the Swiss authorities have confirmed that Switzerland will comply with the US Foreign Account Tax Compliance Act(FATCA)in line with the new deadline of 1 July 2014.
Daniel Freedman, founder and managing director of the London & Capital wealth management office, is sounding the alarm about the dangers of advising Americans to transfer pensions they may have accumulated while working in the UK into QROP schemes when they return home.
Investors who claim that they were missold Swiss franc mortgages to buy Cyprus properties at the height of the property boom are reportedly being offered improved out of court settlements with some of the discounts on offer now 5% higher.
European ETP provider Source is to launch of an ETF designed to match the returns of investing in private equity buyout funds through exposure to listed, public-market instruments.
NatWest has launched a free banking app for international and local clients holding accounts in the Channel Islands, Isle of Man and Gibraltar.
