St James’s Place co-founder dies
One of the founders of St James’s Place, Mike Wilson, has died at the age of 74 following a battle with cancer.
Asia
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The dangers to be aware of when investing in China
China has been making all the headlines in recent weeks after it celebrated the Year of the Dog on 16 February. After such a strong year for Chinese investors in 2017, many headlines focused on the opportunities which lie ahead, but are there dangers that investors need to be aware of?
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Chinese regulator seizes global insurer Anbang
The Chinese insurance regulator stepped in and took control of Anbang Insurance Group on Friday, a move that has put the country’s other insurers on notice.
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Hong Kong’s total assets under management soar 30% in 2017
Bond, equity and mixed asset funds registered for sale in Hong Kong were up in double-digit percentages in 2017, capping a buoyant year for the special administrative region’s mutual fund industry, according to the December quarterly report from the Securities and Futures Commission.
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SJP launches discretionary wealth management service in Asia
St James’s Place Wealth Management has launched discretionary managed accounts in Hong Kong, its first such offering in Asia.
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Standard Life Aberdeen exits life insurance
Following the sale of Standard Life Aberdeen’s insurance arm to consolidator Phoenix Group for £3bn ($4.2bn, €3.4bn), the company will have no insurance business at all, a spokesperson confirmed to International Adviser.
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Leading industry figures respond to the cryptocurrency mania
As cryptocurrencies grab headlines with sky-high valuations, governments and the financial industry remain split over how to respond.
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Bad advice sees Aussie banks pay A$51m
Australia’s five largest banking and financial services institutions have paid a further A$21.4m in compensation to customers who suffered losses because of “non-compliant conduct” by financial advisers, taking the total to A$51.4m (£29m, $41m, €33m). More claims are expected.
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Mark Mobius to launch his own EM fund – report
The emerging markets optimist is reportedly starting his own fund management firm and has also joined the investment committee of Mumbai-based venture capital firm Equanimity Investments, according to local media reports in India.
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Asian investment bank gains Ucits licence
A Luxembourg subsidiary of Asia-headquartered Nomura Bank has been granted a licence to operate as a Ucits management company.
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Bitcoin owners under threat from in-person attacks
Owners of virtual currencies are being targeted in reality, with growing reports of in-person attacks to force people to transfer their cryptocurrencies to anonymous online wallets owned by their attackers.
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Director banned from financial services for five years
The director of a financial services firm has been suspended from the industry for five years, and has agreed to pay £225,786, after his business failed to give appropriate advice to its clients.