St James’s Place is set to roll out services from discretionary fund manager Rowan Dartington across its Asian operations during the first half of this year, according to Mike Gravestock, international partnership director.
The former head of the UK’s Financial Conduct Authority (FCA), Tracey McDermott is to join Standard Chartered in the latest high-profile hire for the bank.
Thailand has announced it will relax foreign ownership restrictions and board limits for life insurance companies in a bid to “promote stability” in the industry.
British insurance giant Aviva has agreed to sell two thirds of its Hong Kong life business to Chinese tech firm Tencent and private equity firm Hillhouse Capital in a deal that will see the unit transform into a digital insurer.
The Hong Kong Securities and Futures Commission (SFC) has fined asset manager Value Partners and its subsidiary Value Partners Hong Kong HK$4m (£412,479, $515,644, €479,669) for breaching regulations in the management of two SFC-authorised funds.
Money poured into multi-strategy funds from Asian investors in 2016, while global bonds bled the most, according to data from Morningstar.
Despite concern about China’s vulnerability to Donald Trump’s brand of isolationism, there are good reasons to be optimistic about the country’s growth in 2017, says Ed Smith, asset allocation strategist at Rathbones.
Brazil, Russia and commodities funds were among Asia’s best performers in 2016, while China funds were among the worst.
Investors in Hong Kong still prefer a commission-based charging structure when it comes to paying for wealth management services, while their mainland Chinese counterparts are increasingly opting for a fee-based model, according to the Hong Kong Investment Funds Association (HKIFA).
Pictet has launched a robotics-themed fund, which is tied to cyclicality and capex spending and linked to a country’s economic health, according to Peter Lingen, the asset manager’s Geneva-based senior manager for thematic equities.
Impax Asset Management can see opportunities in Asia but the lack of clarity on environmental issues from the new US president means a growth outlook for environment-themed investing is difficult, said Ian Simm, Impax Asset Management’s London-based chief executive.
The US Securities and Exchange Commission (SEC) has entered into a memorandum of understanding on cross-border cooperation with the Hong Kong Securities and Futures Commission (SFC).
