The firm’s lower AUM was driven by outflows from its fixed income products in the first half.

The firm’s lower AUM was driven by outflows from its fixed income products in the first half.
The service will make use of actively managed funds.
The bank has found replacements for Chow Shang-Wei, who left the bank earlier this year and is now Deutsche Bank’s head of wealth management for Southeast Asia.
The firm believes that there is strong demand from Chinese investors for Asia fixed income funds.
The firm’s total AUM was also down 20% to RMB 37.5bn from June last year.
The firm now offers at least nine SFC-authorised fixed income products in the SAR.
The firm has co-branded with Ping An to launch the product in Hong Kong.
Its wealth management JV in China is also expected to launch its first products by the end of this year.
Separately, Hong Kong investors have poured money into southbound products for the fourth consecutive month.
The firm will also make use of the new variable capital company (VCC) framework for the fund.
Part of the Mark Allen Group.