A 17.8% stake in China’s second largest mutual fund manager is up for sale after the biggest shareholder, CITIC Securities, decided not to top up its holdings.
Category: Business moves
DBS to add $16.5bn of wealth assets after buying ANZ Asia units
The trend of banks offloading assets continues as Singapore-based DBS acquires ANZ’s WM and retail units in Asia, adding S$23bn ($16.5bn) of wealth assets, which includes S$6bn ($4.3bn) from high net worth individuals.
SLI expands Asia Pacific presence
The Edinburgh-based asset manager announces a new real estate team in Singapore.
US digital wealth manager eyes Asian young professionals
Hedgeable is targeting early-stage investors in Hong Kong and Singapore, who it says are neglected by traditional private banks.
Henderson/Janus merger highlights increasing need for scale
The ink is not dry and already commentators are hailing the merger of Henderson Global Investors and Janus Capital as an example of what is to come.
Henderson takes on Janus in $320bn merger
London-headquartered independent fund manager Henderson Group is to merge with US fund manager Janus Capital, creating a combined operation with $320bn (£248bn,€285bn) assets under management and a market capitalisation of approximately $6bn.
China partnership a route to HNWI opportunity, says UBP
A partnership with an onshore bank is the preferred path for access to the mainland HNW base, according to Michael Blake, Union Bancaire Privee’s chief executive of Asia.
Report: SocGen to sell stake in China JV
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.
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.
