China Pacific Insurance Co. (CPIC) announced the acquisition of a 51% stake of GTJA Allianz Fund Management from Guotai Junan Securities for RMB1.05bn ($152m).
Category: Business moves
UBS AM eyes the onshore China market
UBS Asset Management has launched a Hong Kong mutual fund platform, setting sights on distribution into onshore China market, said Markus Egloff, head of wholesale client coverage for Asia ex-Japan.
Standard Life mulls post-Brexit move to Dublin
Insurance and investment giant Standard Life is considering moving its European hub to Dublin as it prepares for the UK to pull out of the EU single market, the firm’s chairman Gerry Grimstone has said.
US robo advisor eyes Asia
Marketriders, a US robo advisor recently acquired by broker Sogotrade, has its sights on the China market, though strict capital controls are an obstacle, said Sogotrade CEO Jonathan Yao.
Citi joins trend of China index inclusion
Citi’s EM and regional government bond indices will add China, following a similar move by Bloomberg Barclays. However, Chinese government bonds will not join Citi’s larger World Government Bond Index (WGBI).
Investors like Aberdeen and Standard Life merger
News of Standard Life’s agreement to purchase Aberdeen Asset Management has seen shares in both companies take off, with the former climbing to its highest value in over a year.
Aberdeen and Standard Life talk possible merger
Following the Henderson/Janus merger, Aberdeen Asset Management and Standard Life are in discussions on a possible union.
JPM to expand MRF sales coverage in China
JP Morgan AM lifted the subscription cap of its Asian bond fund selling through the mainland through the Mutual Recognition of Funds (MRF) scheme earlier this month, after northbound funds overall recorded net outflows for three months in a row.
China’s Jupai reports earnings growth, new US office plans
Jupai and Noah, the two US-listed Chinese independent wealth managers, reported net profit gain over 35% and 20% respectively.
Harvest Global reveals international expansion plans
Several senior hires on the sales and business development side are part of the China-based firm’s wide-ranging effort to drive cross-border investment.