Bond, equity and mixed asset funds registered for sale in Hong Kong were up in double-digit percentages in 2017, capping a buoyant year for the SAR’s mutual fund industry, according to the December 2017 quarterly report from the Securities and Futures Commission.
Bank of East Asia’s wealth management business posted a 6% profit and delivered 24% growth in assets under management for the fiscal year ending December 2017, according to the bank’s recent financial report
The firm’s balanced portfolio grew in January, driven by a rally in Chinese, Japanese and US equities, according to FE Advisory Asia.
FSA compares the strategy of two exchange-traded funds: the SSGA SPDR Gold Shares ETF and the SAM Value Gold ETF, which are the only physical gold passive funds available for sale in Hong Kong.
Thai investors were optimistic about the local economy in 2017, adding to their equity holdings while investors in China and Hong Kong took money out of equities.
State-owned China Post Global has applied to launch a China A-shares ETF in Europe, adding to its Market Access range of ETFs on the continent, said the firm’s London-based managing director Danny Dolan.
President Xi Jinping’s anti-corruption campaign appears to bear fruit as the country inches up in Transparency International’s newly-released 2017 Corruption Perception Index.
Fullerton Fund Management, owned by Singapore state-run Temasek, has become the latest asset manager to be granted approval to sell an onshore private fund in China.
Hong Kong’s Hang Seng Bank reported a 33% increase in income generated by its wealth management business, driven by strong demand for investment products.
The Singapore-domiciled funds with the highest inflows in 2017 were from Schroders and UOB, while a Fullerton fund had the highest net outflows.
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