Hong Kong financial company Mason Group Holdings has announced plans to build an offshore wealth management business with at least $3bn in assets through a series of acquisitions.
Category: Business moves
Italy’s UBI Banca sells down stake in China AM firm
Italian bank Unione di Banche Italiane reduced its stake in Zhong Ou Asset Management to 25% from 35%, by transferring shares to 11 members of the firm’s management.
China’s robo-advisor Xuanji expands overseas
Xuanji, a Beijing-based robo-advisor, announced plans to launch a fully automated portfolio service in Asia, its first foray outside China.
China’s Lufax licensed for business in Singapore
The Monetary Authority of Singapore has awarded a capital markets services licence to a subsidiary of Ping An-backed Lufax Holdings yesterday, according to a statement from the firm.
CICC buys stake in Kraneshares
Chinese investment bank China International Capital Corp (CICC) has agreed to take a majority stake in the New York-based ETF provider Krane Funds Advisors.
BNY Mellon tries China again with WFOE
BNY Mellon announced plans to re-enter China’s domestic investment management market by joining the growing number of firms establishing a Wholly Foreign-Owned Enterprise (WFOE).
DBS Bank opens free financial advice centre in Singapore
Singapore’s financial advice market just got more competitive after DBS opened a financial planning centre that offers free advisory services but does not sell any financial products.
Aberdeen buys Value Partners’ Taiwan fund business
Aberdeen Asset Management has expanded its Taiwan business by acquiring full ownership of Value Partners Concord Asset Management.
BEA, Harvest to test Swiss-HK MRF scheme
Harvest Global Investments became the first fund house to apply for the mutual fund cross-border sales scheme to tap Swiss investors, and BEA Union Investment intends to follow.
Schroders sells China offshore and buys onshore
The firm’s China-focused portfolio has been taking profits from offshore-listed equities and increasing exposure to both A-shares and mainland bonds in the past few months, said Ricky Tang, Schroders multi-asset product manager.
