RBC GAM hires Asia boss
RBC Global Asset Management, the asset management arm of Royal Bank of Canada, has taken on Ken Tam as head of Asia.
Hong Kong
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Hong Kong ruling risks ‘inconsistencies’ in advice requirements
Hong Kong advisers offering insurance products could face inconsistencies in their overall requirements when a new measure comes into force next year, Old Mutual International’s Mark Christal has warned.
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QDII funds face shutdown in China market slide
China-based fund house Manulife Teda will decide on the liquidation of its Qualified Domestic Institutional Investor fund, highlighting the general underperformance of the QDII vehicle.
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SFC intermediary licence applications jump by 15%
The number of applications for intermediary licences in Hong Kong has risen by just over 15% in a year, the Securities and Futures Commission has said.
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Manulife AM appoints product development boss for Asia wealth
Manulife Asset Management has hired Fidelity’s Asia head of retail for its wealth and asset management arm to boost its distribution platform in Asia.
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Hong Kong fund sales slide by 50%
The Hong Kong fund industry saw net sales drop by almost a half in the first six months of 2015, new figures reveal.
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Sun Life eyes Singapore and Thai markets
Canada-headquartered Sun Life Financial is looking to branch out into new markets, with Singapore and Thailand currently at the top of its expansion plans.
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HK advisers to start mandatory client analysis from 2016
Hong Kong advisory firms selling insurance products will be unable to opt-out of a new guideline which requires advisers to conduct an analysis of customers’ financial needs, the Hong Kong Monetary Authority has said.
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HSBC GAM moves to boost fund distribution in Asia
HSBC Global Asset Management has moved to boost its fund distribution and sales drive across Asia with the announcement of two new appointments.
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ESMA recommends six non-EU nations for AIFMD passport
The European Securities and Markets Authority (ESMA) has recommended that six countries should be among the first wave of non-EU countries to get access to a Europe-wide passport under the Alternative Investment Fund Managers Directive (AIFMD).
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Nomura Int’l fined after breaching Hong Kong regulations
Nomura International in Hong Kong has been fined after it failed to disclose that a trader had caused a $3.3m trading loss by making false entries in its risk management systems.
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Quantum China cool on Mutual Fund Recognition
Foreign firms planning on a Hong Kong-domiciled product for the Mutual Recognition of Funds initiative will likely find limited appeal in China, said Anthony Yeung, managing partner and chief executive of Quantum China Asset Management.