Returns on China’s WM products to shrink
A lack of quality investment targets will pose a challenge for Chinese wealth managers this year, a new report by Cerulli Associates said.
Author: Kirsten Hastings
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PEOPLE MOVES: FPI, Manulife, Schroders…
Friends Provident International has appointed a chief marketing officer for MEA, while Manulife have named a head of distribution EMEA. A Schroders fund manager is stepping down and a reorganisation at Franklin Templeton will see one fund manager stepping back from his day-to-day management role.
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Financial services complaints down
Financial services firms in the UK received 2.11 million new complaints between July and December 2015, a decrease of 1.4% compared with the previous six months, according to the Financial Conduct Authority.
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Hong Kong to see strong growth in leveraged and inverse ETFs – Cerulli
Leveraged and inverse exchange traded funds, which are expected to be launched in Hong Kong later this year, are likely to boost trading in ETF products in the territory, according to research firm Cerulli Associates.
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Half of advisers back Brexit, one in six still on the fence
Half of advisers (50%) would welcome Britain cutting ties with the EU while just over a third (34%) want the UK to remain in Europe, according to a survey from financial services technology company Intelliflo.
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Asset and wealth mgt confidence hit by volatile markets
The asset and wealth management industry has seen its first significant fall in confidence since the winter of 2011, according to a joint report from the CBI and PwC.
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Dutch citizens facing Swiss bank account probe
Thousands of Dutch citizens face having details of their Swiss bank accounts combed over by tax authorities despite a court ruling that they should not have been disclosed.
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Gibraltar removed from Bulgarian tax haven list
Bulgaria has removed Gibraltar from its ‘tax haven’ list following intensive lobbying from Gibraltar Finance and the state’s minister for finance and gaming, Albert Isola.
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Global open-ended fund assets show consistent growth – Efama
Worldwide assets in open-ended funds were €36.9trn (£29.2trn, $41.3trn) at the end of 2015, having outperformed every quarter in 2014, according to the European Fund and Asset Management Association (Efama).
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Credit Suisse to cut 2,000 more jobs, save another CHF800m
Credit Suisse is to eliminate another 2,000 jobs and make an additional CHF800m (£576.1m, $824m, €733.8m) in cost savings, as it accelerates the pace of its restructuring following disappointing results in the final quarter of 2015.
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The rise of investment fintech
No longer the preserve of payment solutions developers, fintech startups are gaining ground and increasingly disrupting the investment management industry.
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Novia partners with DFMs on new investment portal
International intermediaries’ platform Novia Global has launched a new integrated investment portal, which provides access to a panel of discretionary fund managers (DFMs).