Philippine HNWIs maintain strong home bias
A preference for local investment products limits investor allocation to feeder funds, according to industry sources.
News
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China’s MSCI A-share inclusion a small first step
Largely within expectations, the MSCI will add Chinese A-shares to its emerging markets indices starting in May next year – a symbolic rather than impactful move in the short run.
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Mourinho accused of tax fraud by Spanish prosecutors
Manchester United manager Jose Mourinho has become the latest football figure to be accused of tax fraud by Spanish prosecutors.
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HMRC frames new string of conditions for APN avoiders
HM Revenue & Customs has set out a string of new conditions under which it may extend the time allowed to pay a tax bill under an accelerated payment notice (APN).
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BlackRock claims stake in European robo-adviser Scalable Capital
BlackRock has acquired a significant minority stake in digital investment manager Scalable Capital.
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Fearful advisers face ‘information vacuum’ on pension transfers
Nearly all financial advisers disagree with the UK regulator’s pension transfer value analysis assumptions and are having to deal with an “information vacuum” from the UK regulator, according to veteran retirement expert Mike Morrison.
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Sterling plummets on Carney rate hike rejection
Sterling fell on Tuesday morning in reaction to Mark Carney’s claim that “now is not yet the time” to hike interest rates in the UK.
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Jersey’s finance minister out as chief minister clings on
Jersey’s assistant chief minister Philip Ozouf has been ousted, having only returned to the political fold on 26 May after he resigned in January, with chief minister Ian Gorst maintaining his slim grip on power following calls for a vote of no confidence.
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PEOPLE MOVES: Cazenove Capital, Legg Mason, Investec AM
Schroders’ Cazenove Capital has appointed a UK chief executive, while Legg Mason has named a head of UK sales. Investec Asset Management has raided Threadneedle for a portfolio manager for its UK smaller companies fund.
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Indonesia’s tax amnesty boosts bond appeal
Indonesia’s tax amnesty brought in revenue, which lowered the fiscal deficit and enhanced the appeal of government bonds, says Allianz Global Investor’s David Tan.
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Stricter suitability requirements to roll out in China
All products that mainland Chinese can invest in will have to meet newly-introduced suitability requirements starting July 1.
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How the fee-based model changes asset management
What could the potential fallout be for asset managers when Asia’s regulators eventually replace the commission-based wealth management model with a fee-based one? Ben Cherrington, head of intermediary channels in Asia Pacific at M&G Investments, shares some key changes in the UK, which decided to make the leap to fee-based in 2013.