China’s banks seek Hong Kong wealth management operations
Mid-tier Chinese banks plan to expand wealth management activities in Hong Kong to serve mainland high net worth individuals (HNWIs), industry players said.
High Net Worth
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Isle of Man offers new banking licences to trusts and HNWs
The Isle of Man has begun accepting applications for a new banking licence aimed at non-retail deposit takers, which can be issued to high net worth individuals or new business startups.
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Poor portfolio diversification top mistake by HNWIs: deVere
The mistake made most often by high net worth investors, prior to seeking financial advice, was failing to properly diversify their portfolios, according to an international poll by deVere Group.
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Australia’s NAB restructures HNW business
The National Australia Bank Group, one of the country’s big four banks, has restructured its high net worth (HNW) business, which will see its private banking arm renamed NAB Private.
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HNW client base from China increasing in Hong Kong, BEA says
Personal wealth is flowing out of China as domestic investors grow increasingly concerned over the markets and economic growth, according to Bank of East Asia.
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Most HNWs to invest more in 2016, says deVere
Three-quarters of high-net-worth (HNW) individuals plan to increase contributions to their investment portfolios in the first half of 2016, according to a poll by the deVere Group.
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Griffon Capital launches Iran flagship fund
Iran-focused asset management and private equity group Griffon Capital has launched Cayman Island-domiciled Griffon Iran Flagship Fund to tap into Iran’s public equity market.
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DeVere UK launches HNW division in business expansion
DeVere UK, a member of the deVere Group, has launched a new High Net Worth division as part of a planned expansion to deal with a forecast 50% rise in business levels for 2016.
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Singapore outpacing Hong Kong for millionaires
The population of millionaires in Singapore is expected to grow by more than 18.3% by 2020, compared with 15.6% in Hong Kong.
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Thailand plans revising investor eligibility for mutual funds
Thailand has proposed revising the rules to ensure only accredited investors – such as high net worth individuals – with matching risk profiles are eligible to invest in high risk mutual funds.
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Old Mutual Int’l kick starts Isle of Man high net worth team
Old Mutual International has launched a new high net worth team in its Isle of Man service centre to meet rising demand from wealthy individuals.
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Asia Pacific HNWI population grows 8.5% in 2014
The Asia-Pacific was the fastest growing region in 2014 for high-net-worth individuals, those with $1m investable assets.