Societe Generale is mulling the sale of its 49% stake in Fortune SG Fund Management, China’s 16th largest mutual fund house, according to industry reports.
Category: Business moves
China’s Industrial Bank to set up AM unit in HK
The Fuzhou-based bank is planning to open a non-bank financial subsidiary in the SAR to conduct business including asset management and possibly private banking services.
China’s Noah sets up Jersey managed trust
The Shanghai-based independent wealth manager set up a trust with provider JTC to address the increasing succession planning needs of its mainland HNW clients.
Robeco sets up Singapore office
Netherlands-based Robeco has opened a new office in Singapore for sales and client servicing and, separately, New York Life IM is opening a Japan sales office.
Alts manager sets up in Hong Kong
US-based AQR Capital Management will focus on sales and client servicing while evaluating China’s investor base.
Mercer opens discretionary service in Singapore
Mercer has expanded its “delegated investment solutions” business into Singapore, targeting institutional investors with demand for alternative investments.
Hong Kong firms seek alts growth through merger
Carret Private Investments intends to merge its Hong Kong private wealth management business with QL Asset management in hope of expanding the asset base in alternatives.
ICBC-Axa set up mainland AM firm
Two more insurer-backed asset management companies have been approved in China, making a total of 26 firms.
Aberdeen set to attract onshore China capital
Aberdeen AM is set to become the first wholly foreign owned enterprise (WFOE) to receive investments from onshore institutional and high net worth investors.
Thai bank signs Singapore pact to train RMs
Siam Commercial Bank has partnered with the Singapore-based Wealth Management Institute to address rising demand for RMs.