OCBC opens Indonesia wealth unit amid tax amnesty success
Singapore’s OCBC Bank has launched an onshore private banking business, spurred by Indonesia’s tax amnesty.
News
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Warning of ‘volatile summer for markets’ due to Trump and China
Financial markets could turn volatile this summer after one of the biggest multi-asset investing teams in the City of London warned its forecasting models were indicating possible trouble ahead.
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Invesco Powershares launches ‘unique’ S&P 500 Ucits ETF
Invesco PowerShares, the exchange-traded funds arm of Invesco, has launched a refined version of an S&P 500 ETF under the Ucits framework.
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French authorities raid soccer stars’ homes in tax probe
The homes of Paris Saint-Germain players Angel Di Maria and Javier Pastore were searched on Tuesday morning by French anti-corruption officers, in the latest tax fraud probe to rock the football industry.
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PEOPLE MOVES: Neptune, Lombard Odier, Schroders, SLI
Neptune Investment Management’s China fund manager exits after 10 years as Lombard Odier announces a new chief executive for its Asia division. Schroders hires an investment heavy hitter to the newly created role of head of global sales while Standard Life bolsters its multi-asset team.
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Isle of Man regulator takes action to stem fund failures
The Isle of Man financial regulator is to crack down on collective investment funds by setting out “effective” guidance rules to “safeguard the reputation of the island”.
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UK and Spain to probe £120m storage pod pension scams
The UK’s Serious Fraud Office is working with the Spanish authorities to investigate the promoters of self-storage investment schemes, warning that £120m (€139m, $156m) of investors’ money could be at risk.
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China’s HNA looks to buy a stake in Value Partners
Chinese conglomerate HNA Group is looking to buy a stake in Hong Kong fund management firm Value Partners, making it the company’s fourth investment in an asset manager in the past six months.
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Majority of emerging markets funds in Asia underperform
More than half of emerging market equity funds available for sale in Hong Kong and Singapore underperform the MSCI Emerging Markets Index, FE data shows.
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China to lift curbs on foreign fund offshore investments
China is set to lift a two-year suspension on foreign funds raising money in the country to invest overseas, a sign that Beijing is loosening its grip on personal wealth leaving the country.
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Competition watchdog to scrutinise Standard Life/Aberdeen deal
A UK government watchdog has announced an investigation into the merger of Standard Life and Aberdeen Asset Management, to ensure it does not damage competition in the industry.
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British PM to water down £100k ‘dementia tax’ pledge
British prime minister Theresa May has said she will set an “absolute limit” on the money people will have to contribute to pay to fund their long term social care when they retire.