Hong Kong financial bodies unite to raise standards
Two major financial organisations in Hong Kong have merged to help strengthen professionalism within the region’s insurance and financial services market.
Asia
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Jersey’s Enhance Group to open Asia office
Jersey-based investment and wealth consultancy Enhance Group said it will open a Singapore office to tap into the growth of private wealth across Asia.
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China’s trading freeze may undermine MSCI inclusion
The recent suspension of trading in 1,300 A-share stocks could delay their much-awaited inclusion in MSCI’s emerging market index, fund houses said.
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Hong Kong asset managers jump on mutual recognition of funds initiative
Hong Kong has received 14 applications for products wishing to take part in China’s mutual recognition of funds (MRF) scheme, a new initiative which has loosened the flow of cash between the two regions.
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Asia ‘behind curve’ in use of passive strategies
Global flows into exchange-traded funds may be steadily rising, but ETF usage is lagging among wealthy clients in Asia, according to Roger Bacon, Asia-Pacific head of managed investments at Citi Private Bank.
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Big data to influence product manufacturing: Cerulli
Digital disruption is upending the wealth management industry and it could also have an impact on the product manufacturing process, according to Cerulli Associates.
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LM action group secures representation to Australian Gov’t
Expat investors who lost a combined total of £500m after the collapse of LM Investment Management have persuaded the Australian ambassador to Thailand to represent their case to the Australian Government.
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Chinese equity rout slows but at what cost?
Chinese markets rose on Thursday, bringing relief from the frenzied selling that had characterised markets over the past few days and hope that the authorities increasingly heavy-handed measures to stop the rout had finally begun to work.
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China’s market plunge puts economy at risk
The ongoing fall in China’s stock market puts the country’s entire financial system and structural reform agenda at risk, according to Axa Investment Managers and Schroders.
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Thailand’s SEC files criminal complaint against adviser PPI
Thailand’s Securities and Exchange Commission said it has filed a criminal complaint against Professional Portfolio International (PPI), a financial planning and wealth management firm with offices across Southeast Asia, and two of its employees for operating a securities business without a licence.
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T. Rowe Price: Vietnam’s removal of foreign ownership limits will lift economy
International investors will be able to take a 100% stake in Vietnamese companies when the country scraps its foreign ownership limits in September, which T. Rowe Price’s Oliver Bell said will remove reluctance to invest in the market.
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BNP Paribas launches RQFII fund
French asset management firm, BNP Paribas Investment Partners, has launched a fund which offers access to Chinese A shares through its renminbi qualified foreign institutional investor (RQFII) licence.