A robo-adviser that uses machine learning to create a balanced investment portfolio for clients is the latest automated service to launch in Hong Kong amid a string of new entrants into the competitive market.
UBS, Allianz, Schroders, Blackrock and Castlestone have funds that are among the best and the worst performers in June 2017.
China has cut and again pushed back plans to levy a value-added tax on asset managers for returns on assets under management, adding a further six-month reprieve on an already 14-month grace period.
The UAE ambassador to the US has been caught up in the international scandal involving Malaysian sovereign wealth fund 1MDB, after reports that companies connected to him received millions of dollars allegedly stolen from the fund.
Insurance companies across the Asia Pacific region face a growing gap between investment returns and meeting the promises made to customers, according to a survey released by Standard Life Investments (SLI).
Foreign investors are now able to buy and sell Chinese bonds via Hong Kong after the country’s central bank approved its Bond Connect scheme, but no date has been set to allow investors in China to invest in foreign bonds.
Singapore’s financial advice market just got more competitive after DBS opened a financial planning centre that offers free advisory services but does not sell any financial products.
Aberdeen Asset Management has expanded its Taiwan business by fully acquiring Value Partners Concord Asset Management.
Singapore’s decision not to impose the same hefty fines on banks linked to 1MDB as other countries, but to instead name and punish individuals responsible, is a strong deterrent, said Ravi Menon, managing director of the city-state’s financial regulator.
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.
A Shanghai-based financial adviser has heavily criticised the Isle of Man Financial Services Authority (IoMFSA) over how it has handled the fallout of the Quadris Environmental Forestry Fund, which invested in Brazilian teak plantations.
St James’s Place (SJP) Wealth Management Asia has moved to larger premises in Singapore to develop a stronger presence in the local market and build on its expat-focused business.
