China gives the green light to first online-only life insurer
Hetai Life Insurance has received approval from China’s insurance regulator to start operating as the country’s first-ever online life insurer.
Asia
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Newcomer Japanese funds to watch
Investors in the Japanese stock market benefited from currency fluctuations in 2016 and the outlook for 2017 appears favourable, too.
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Japanese funds to watch based on their three-year performance
Small-caps, a buying-and-holding approach, and unrestricted use of equities are some of the fund strategies to watch in Japan, according to Morningstar investment research analyst Lena Tsymbaluk.
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Lion Global launches `disruptive’ tech fund
Singapore’s Lion Global Investors has launched a retail fund that invests in disruptive industries.
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Vontobel launches joint venture with Bank of Singapore
High net worth clients with the Bank of Singapore can now open an account with Zurich-headquartered with Vontobel following a joint venture between the two private banks.
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Passive investments set to overtake actives by 2024, says Moody’s
Assets held in passive investments will represent more than 50% of the US market in four to seven years’ time, with the growth rate in Asia expected to increase, according to a Moody’s report.
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Swiss regulator fines Coutts $6.6m for role in 1MDB scandal
Switzerland’s financial regulator has fined Coutts & Co, which counts the Queen among its clients, for violating money-laundering rules and illegally profiting from transactions associated with 1Malaysia Development Bhd (1MDB).
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Singapore’s already delayed commission cap still not in place
Singapore’s 55% cap on commission payments “has still not been practically implemented” despite being due to come into force in January 2017, an industry source told International Adviser.
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Old Mutual International appoints Singapore chief executive
Old Mutual International (OMI) has promoted Ian Kloss to chief executive of Singapore, replacing Steve Hickman who has decided to pursue opportunities outside the group.
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ETF Securities drops Hong Kong asset management licence
UK-based ETF Securities has decided not to renew its asset management licence in Hong Kong, following a number of high-profile delistings in city last year.
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Ex-adviser jailed for Cambodian biofuel scam faces SFO action
A former financial adviser currently serving six years in a UK prison for his part in a collapsed biofuel investment scam, is facing further enforcement action by the Serious Fraud Office (SFO) after missing the deadline to pay a confiscation order.
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Australian banks to begin sharing information on ‘bad advisers’
Australia’s major banks have announced plans to name and share information about financial advisers with a poor record of conduct to help prevent them moving around the industry.