Hong Kong’s Securities and Futures Commission (SFC) has authorised BEA Union Investment to launch an Apac fixed income product structured as an “open-ended fund company” (OFC).

Hong Kong’s Securities and Futures Commission (SFC) has authorised BEA Union Investment to launch an Apac fixed income product structured as an “open-ended fund company” (OFC).
Private banks will be allowed to have face-to-face meetings, but staff must be equipped with a face shield in addition to a face mask.
The US-based firm has prepared four SFC-approved products for launch.
The US asset manager has applied to China’s regulator for a licence to access the country’s retail investor market.
Despite headwinds in China’s tech industry, the firm has a tilt toward internet, healthcare, 5G and electronic component makers.
In March alone, $7bn in capital fled fixed income products, particularly from global and Asia-focused bond funds.
The move comes after the firm decided earlier this year to put on hold plans of developing its businesses in China and Hong Kong as the coronavirus outbreak was peaking in the mainland.
Foundation AM’s China high yield strategy aims to provide an annual income target of 8.5%.
Similarly, Kuala Lumpur-based BIMB IM also launched its own robo-advisory platform last month.
Effective June, QFII and RQFII quota restrictions will be lifted.
Part of the Mark Allen Group.