First State and BOCHK received licences and US asset manager Hall Capital was granted QFII quota in June, according to China’s regulatory agencies.
Category: News
Alibaba fund lifts China’s total AUM
The Yuebao money market fund had inflows of RMB 623.5bn ($91.8bn) in the first half of 2017 thanks to its 4% yield, according to mainland media.
China again delays tax on asset managers
China has cut and again pushed back plans to levy a value-added tax on asset managers for returns on assets under management, adding a further six-month reprieve on an already 14-month grace period.
Best and worst funds – June 2017
UBS, Allianz, Schroders, Blackrock and Castlestone have funds that are among the best and the worst performers in June 2017.
Singapore’s AM industry up 7% in 2016
Despite several local bond defaults, Singapore’s asset management industry managed to grow 7% last year, with managed assets hitting S$2.7trn ($1.96trn), according to the Monetary Authority of Singapore’s 2016-2017 annual report.
New appointments at HSBC PB and UBS WM
HSBC Private Banking hired a strategist from Credit Suisse and UBS Wealth Management promoted a global distribution head for alternatives and syndicate.
HKEX: ETFs de-listed; funds to launch
Samsung Asset Management will delist six ETFs in Hong Kong, while Capital Group received a green light to launch five mutual funds.
Indosuez Wealth plucks another senior manager
Indosuez Wealth Management, the wealth management arm of the Crédit Agricole Group, has hired Eugene Huang as a Singapore-based senior banker.
Growing crop of HK robo-advisors adds another entrant
Hong Kong-based B2B robo-advisory startup Aqumon signed its first four clients to launch a fully-automated portfolio in the SAR and in China.
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).
