South Korea’s largest life insurers report fall in profits
South Korea’s major life insurers reported lower profits for the first half of the year due to the prolonged rock-bottom interest rate environment and economic slowdown.
South Korea
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Korean insurer Hanwha to pump $134m into Indonesian expansion
Hanwha Life, South Korea’s second largest life insurer, is set to pump KRW150bn (£102m, €121m, $134m) into its Indonesian arm in a bid to expand its foothold in the country’s booming insurance sector.
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Investment prospects of the top 10 Olympic nations
As the world’s attention turns to Rio for the opening of the 2016 Olympic Games on Friday, fund managers have assessed the investment opportunities on offer in the most powerful Olympic sporting nations.
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Mirae tackles regulatory bumps on road to global expansion
The patchwork of global financial regulations present a key challenge when an asset manager wants to expand, said Mirae Asset Global Investments (HK) president and chief executive Jung Ho Rhee.
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Leveraged and inverse ETFs debut in Hong Kong
Samsung Asset Management has launched Hong Kong’s first leveraged and inverse ETFs.
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Complexity of Asia hinders fund passport schemes
Varying tax and regulatory issues across the region could disrupt the Asia Region Funds Passport initiative, according to Mostapha Tahiri, chief executive and head of asset and fund services for Asia at BNP Paribas Securities Services.
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Asia Pacific Funds Passport takes big step forward
Representatives from Australia, Japan, Korea, and New Zealand signed a memorandum of cooperation (MoC) on the Asia Region Funds Passport (ARFP) on Thursday, that should see the initiative launched next year.
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Oil ETFs roll out in Hong Kong
South Korean-based Samsung Asset Management and Mirae Asset Global Investments along with China’s CSOP Asset Management are among the firms planning to launch crude oil exchange traded funds (ETFs) in Hong Kong.
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Wealth management in S.Korea to become a ‘common concept’
Introducing a fee-based only regime for South Korea’s financial advisory sector, as proposed by the country’s regulator, will help wealth management become “a more common concept” for Korean investors, said Young Soo Kim, head of distribution at Schroders Korea.
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Allianz sells S. Korean life insurance and investment arms
Allianz has agreed to sell its South Korean life insurance unit and Allianz Global Investors Korea to China’s Anbang Insurance Group.
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New S. Korea IFA model a ‘turning point in rebuilding trust’
Barings’ chief executive in South Korea, Thae Khwarg, has said that he ‘welcomes’ proposed changes announced by the country’s Financial Services Commission (FSC) which would allow IFAs to provide independent advice while adopting a new fee-based only regime similar to the UK.
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Hong Kong to see strong growth in leveraged and inverse ETFs – Cerulli
Leveraged and inverse exchange traded funds, which are expected to be launched in Hong Kong later this year, are likely to boost trading in ETF products in the territory, according to research firm Cerulli Associates.