Hong Kong fund industry tax concerns under review
The Hong Kong Government will be conducting a comprehensive review of the existing tax concessions applicable to the fund industry, according to Paul Chan, Hong Kong’s financial secretary.
Regions
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UK ombudsman backs complaint after pension fund falls 50%
Britain’s Financial Ombudsman Service (FOS) has found in favour of a former client of PFP Wealth Management after funds it chose for his pension slumped nearly 50% in the first year.
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European equity fund flows collapse
Investors have paused their aggressive buying of European equities. Net inflows recorded the steepest monthly drop since January 2016, falling to just €533m (£468m, $630m) in August, according to Morningstar data. Is the strong euro to blame?
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Investment managers optimistic ahead of Mifid II
After a drop off in sentiment in the previous three months, asset and wealth managers in the UK are more optimistic about their overall business situation, according to the latest CBI/PwC Financial Services Survey.
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With under 100 days to go, many still clueless about Mifid
A fifth of business leaders have admitted their employees are not even aware of the sweeping changes that will come into force under Mifid II, a survey has revealed.
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UBS offices raided by 130 investigators over tax evasion
An investigation into alleged tax evasion by about 2,000 UBS Group clients saw German prosecutors conduct a series of raids on Tuesday and Wednesday.
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Europe Best Practice Adviser Award winners revealed
The winners in Europe for International Adviser’s Best Practice Adviser Awards 2017 series were revealed on 28 September at the Waldorf Hilton in London.
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Online wealth manager launches cost comparison tool
Many investors are not aware how much their wealth manager is charging them for advice and management services, according to online wealth manager Netwealth.
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Are snap elections a game changer for Japanese equities?
Japanese equity fund managers are backing small and mid cap companies in the tech space as well as ‘online disrupters’ ahead of the snap election to be held in October.
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Canada Life International targets wider market
The portfolio bonds from Canada Life International (CLI) have halved the minimum single and additional investment amounts and increased the maximum age of the youngest life assured by 10 years.
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FCA rejects demand to review point of sale disclosure
Calls for a review of the complex and lengthy disclosure documents clients receive at the point of sale (POS) have been rejected by the Financial Conduct Authority despite the regulator admitting that customers can get confused.
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Has German election killed the European Spring?
Many fund managers dismissed the historical German election results as “insignificant for markets”, but they have failed to consider its impact on the status quo and the possible reversal of recent political trends.