Hong Kong domiciled funds growth outpaces Singapore
Chinese equity mutual funds boost the size of the Hong Kong-domiciled mutual fund landscape, helping it push ahead of rival Singapore.
Hong Kong
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Hong Kong’s Mason plans acquisitions for wealth unit launch
Hong Kong financial company Mason Group Holdings has announced plans to build an offshore wealth management business with at least $3bn (£2.3bn, €2.5bn) in assets from the ground up through a series of acquisitions.
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FCA signs cooperation agreement with Hong Kong regulator
The UK Financial Conduct Authority (FCA) has signed an agreement with the regulatory authority in Hong Kong to strengthen cooperation and facilitate the exchange of information.
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Hong Kong’s private wealth assets grow by 9%
Hong Kong’s private wealth management assets reached HK$5.2trn (£513.2bn, $665bn, €578.9bn) in 2016, growing by 9% and increasing their share of the overall fund management business in the territory, according to a report by the Securities and Futures Commission.
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Deutsche AM terminates 16 Hong Kong ETFs
Deutsche Asset Management is delisting 16 ETFs in Hong Kong, cutting the number of exchange-traded funds it has listed in the special administrative region in half, according to data from the Hong Kong Exchange and Clearing.
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Hong Kong and France strike deal on mutual recognition of funds
Hong Kong’s Securities and Futures Commission (SFC) and France’s Autorité des Marchés Financiers (AMF) have signed a memorandum of understanding linking their mutual fund markets.
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AI robo-adviser Aqumon the latest to launch in Hong Kong
A robo-adviser that uses machine learning to create a balanced investment portfolio for clients is the latest automated service to launch in Hong Kong amid a string of new entrants into the competitive market.
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China opens $9trn bond market to foreign investors
Foreign investors are now able to buy and sell Chinese bonds via Hong Kong after the country’s central bank approved its Bond Connect scheme, but no date has been set to allow investors in China to invest in foreign bonds.
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Hong Kong’s Insurance Authority goes live
Hong Kong’s newest regulator, the Insurance Authority, was officially launched on Monday, replacing the Office of the Commissioner of Insurance (OCI) which was disbanded on the same day.
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Most expensive global expat cities 2017
Five Asian and three European cities were among the 10 most expensive places for expats to live, with the dubious honour of being the most expensive bestowed on the capital of Angola.
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Singapore, HK to outpace Switzerland for offshore wealth
Singapore and Hong Kong remain the fastest-growing offshore centres and are set to outpace Switzerland when it comes to attracting wealth from abroad, a new report predicts.
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Hong Kong’s new Insurance Authority eyes mis-selling crackdown
Hong Kong’s new insurance regulator plans to work closely with its mainland China counterpart to protect consumers when it officially takes over from the Office of the Commissioner of Insurance (OCI) on 26 June.