Fund news Archives - Page 27 of 62

CCB, ICBC launch WM subsidiaries in China

The new wealth management subsidiaries may provide business opportunities for foreign players that have a private fund management licence in China.

The two firms join forces to offer Money Plus, an app that can transfer cash to a WeInvest money market fund.

The platform, which has been launched in Hong Kong and Singapore this month, will provide flat advisory fees to investors.

The product category was the top-selling sector during the first quarter in Asia-Pacific, according to a Broadridge Financial report.

Manulife Asset Management and Trust has launched eight mutual fund products since setting up locally in 2017.

Firms interested in joining the scheme will need to apply for an investment quota from China’s State Administration of Foreign Exchange (SAFE).

DE Shaw joins Winton Capital and Man Group, which have launched onshore quantitative strategies.

The fund will focus on undervalued stocks of companies that are believed to be transforming their sectors.

The firm has also rolled out an Islamic equity fund in Malaysia.

In Hong Kong, the new products that gained the most assets in January are managed by BEA Union IM.