Indonesia’s tax amnesty boosts bond appeal
Indonesia’s tax amnesty brought in revenue, which lowered the fiscal deficit and enhanced the appeal of government bonds, says Allianz Global Investor’s David Tan.
Asia
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Stricter suitability requirements to roll out in China
All products that mainland Chinese can invest in will have to meet newly-introduced suitability requirements starting July 1.
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How the fee-based model changes asset management
What could the potential fallout be for asset managers when Asia’s regulators eventually replace the commission-based wealth management model with a fee-based one? Ben Cherrington, head of intermediary channels in Asia Pacific at M&G Investments, shares some key changes in the UK, which decided to make the leap to fee-based in 2013.
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US seeks recovery of $1.7bn from scandal-hit 1MDB fund
The US Department of Justice (DOJ) is working to recover around $1.7bn (£1.3bn, €1.5bn) in assets linked to an international conspiracy to launder funds misappropriated from Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB).
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Indosuez Wealth Mgt to buy Singapore and HK private bank
Indosuez Wealth Management has started exclusive discussions with Credit Industriel et Commercial to acquire its private banking operations in Singapore and Hong Kong.
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Aussie advisers to help foot the bill for industry regulator
The Australian Government has approved an industry funding model that will see retail financial advisers pay at least A$1,500 (£890, $1,136, €1,012) each to fund the Australian Securities and Investments Commission (Asic).
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Demise of the machines as Macquarie closes robo-advice unit
Macquarie’s direct robo-advice service is to be shut down with its automated advice offering integrated into the bank’s wealth platform following the sudden death of founder and chief investment officer John O’Connell.
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Singapore, HK to outpace Switzerland for offshore wealth
Singapore and Hong Kong remain the fastest-growing offshore centres and are set to outpace Switzerland when it comes to attracting wealth from abroad, a new report predicts.
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New entrant Singapore Life receives licence to target HNWs
New insurer Singapore Life has become the first local insurer in nearly half a century to receive a licence from the Monetary Authority of Singapore (MAS) to operate as a direct life insurer.
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Deutsche Bank wealth arm eyes super-rich in Asia, Middle East
Deutsche Bank Wealth Management is hiring 100 client managers around the world in a bid to target the ultra-wealthy, particularly in Asia and the Middle East.
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Hong Kong’s new Insurance Authority eyes mis-selling crackdown
Hong Kong’s new insurance regulator plans to work closely with its mainland China counterpart to protect consumers when it officially takes over from the Office of the Commissioner of Insurance (OCI) on 26 June.
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Capital Group launches US equity fund in Asia
US investment manager Capital Group makes a bet that the American economy will stay robust and launches a US equity growth strategy available for professional investors in Asia.