Hong Kong-based fund managers are “racing” to introduce Hong Kong-domiciled funds, ahead of plans for a “mutual recognition” programme that will enable them to be sold in mainland China, according to a report published today.
Australia's AMP Capital has entered into a pact with China Life Insurance Group's subsidiary, China Life Asset Management to set up a fund management company in China.
Mainland China’s fund management companies have formed a new association in Hong Kong, with the aim of being able to speak with a single voice on issues of shared concern.
Vivienne Ng has been appointed to the newly-created position of executive director and head of Coutts International's China desk in the UK, in a move the bank says indicates the growing importance of Chinese-derived wealth in Britain.
Moody's Investors Service has downgraded the outlook for Hong Kong's banking system to negative from stable, citing its "concerns regarding persistent negative real interest rates" and the institutions' "growing exposures to Mainland China".
The price of gold may have fallen another $125 per ounce yesterday its greatest one-day loss ever but some retail investors in Hong Kong and mainland China are buying more of it, rather than selling, according to a columnist for the South China Morning Post.
The struggles Asian immigrants often face in obtaining legal residency in countries like the UK and US are well documented, but expatriates from these countries can face similar battles in their efforts to remain in China, an expat with experience of the difficulties has revealed.
Easton Investments Limited, the Australian company which recently said it was to buy a 19.9% stake in Singapore’s AAM Advisory through its Easton Wealth Asia subsidiary, has entered into a non-binding memorandum of understanding with ICBC (Australia) Investment Management Company (ICBCAIM).
From the first of June, China’s mutual funds market will become more open to a greater range of product providers, including securities firms and insurance companies, following the release last week of new rules by the Chinese regulator.
ICI Global, a trade association which represents global fund managers, has opened an office in Hong Kong to focus on the Asia Pacific region.
After soft-closing the proposition in December last year, Allianz Global Investors has reopened its Renminbi Fixed Income Fund.
Allianz Worldwide Care, the Dublin-based international health insurance provider, has unveiled a package of corporate healthcare plans for the Chinese market.
