The US Department of Justice (DOJ) is working to recover around $1.7bn in assets linked to an international conspiracy to launder funds misappropriated from Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB).
Category: News
Indosuez PB targets CIC in Asia
As private bank consolidation continues, Indosuez Wealth Management, the private banking arm of the French bank Credit Agricole, aims to acquire the private banking divisions of Credit Industriel et Commerial in Singapore and Hong Kong.
The FSA Spy market buzz – 16 June 2017
Nexus expands; Fundsupermart adds funds; Seeking yield; ETFs gather assets again; Franklin Templeton watching busses; Artificial intelligence; Getting a HK job and much more.
In case you missed it – Asian Fund Investor News
Jupiter adds two fixed income analysts; OMGI hires trio from Nomura AM; BNPP AM names Mark Speciale as APAC head of institutional sales; BNY Mellon appoints Rohan Singh as APAC head of asset servicing; fintech agreements made in Hong Kong and Singapore; HK’s SFC bans ex-HSBC employee for non-disclosure; and more…
HK’s mutual fund assets hit $1.38trn
Hong Kong’s mutual fund assets are up 8% year-on-year to $1.38trn, according to the Securities and Futures Commission’s 2016-2017 annual report.
Ratings, RMB impair China’s bond market
A stabilised currency, improved liquidity and a more mature credit culture are what will attract investment in onshore Chinese bonds, industry sources said.
ETF/ETP assets surpass $4trn
Assets under management in ETFs/ETPs surpassed $4trn in May, driven by US-domiciled products, according to data from multiple providers.
Report: Dynamic Chinese wealth managers thrive under lax regs
Standalone wealth managers are growing fast and actively expanding overseas, but also facing increasing scrutiny over previously loose regulations, according to a Chinese think tank.
Deutsche Bank WM in Asia hiring spree
Deutsche Bank Wealth Management is planning to hire 100 client-facing employees this year, in which half of them will focus on high net worth individuals in Asia-Pacific.
Market timing an issue in Asia
Investors in Hong Kong, Singapore and Taiwan had a higher returns gap, which measures the effect of market timing, than their global peers, according to Morningstar research.
