Standard Life lost £5m (€5.9m, $6.4m) last year from its wholly-owned business in Hong Kong as it confirmed that more than 800 jobs will be lost after it merges with Aberdeen Asset Management.
A Switzerland-Hong Kong fund recognition scheme is looking to gain traction in Asia, following closer links between the two countries in recent months.
Hong Kong’s Securities and Futures Commission (SFC) has proposed a set of suitability requirements for online platforms and robo-advisers which sell ‘complex’ investment products.
ESG investing moved on from simple exclusion screening long ago, said Karine Hirn, partner at East Capital.
China’s insurance regulator has issued its third warning in just nine days, announcing a clampdown on life insurers just weeks after the high-profile sacking of its top official in a corruption scandal that rocked the industry.
Fund manager Capital Group is teaming up with AIA Hong Kong to introduce long-term investment solutions through the AIA investment linked assurance scheme (Ilas).
Mirae Asset Global Investments in Hong Kong has launched an Asia bond fund, which aims to capture the most attractive opportunities within the Asian corporate bond space.
Chinese financial services group HNA has become the biggest shareholder in Deutsche Bank after increasing its stake to just under 10%, overtaking the Qatar royal family and BlackRock.
China Pacific Insurance Co. (CPIC), the country’s third largest life insurer, has bought a 51% stake in Chinese fund management company GTJA Allianz Fund Management and will share ownership of the firm with Germany’s Allianz.
Malaysia’s sharia-compliant mutual funds have seen assets under management decline from the peak of 40.7% in March 2016 to 39.4% in March 2017, according to data from Morningstar.
Bangladesh’s life insurance market is likely to expand by $1.5bn (£1.2bn,€1.4bn) in the next three to four years, according to Chris Townsend, MetLife’s Asia president.
Hong Kong’s multi-millionaires failed to adjust their portfolios in time to benefit from strong equity markets after the 2016 US presidential election, a Citi survey revealed.
