Shanda Group, Legg Mason’s largest shareholder, plans to boost its stake in the US-listed asset manager by 5% and appoint two board members as part of a long-term strategic investment agreement.
Category: News
Allfunds plans Asian expansion from new Singapore hub
Mutual funds platform operator Allfunds Bank has announced plans to expand across Asia by launching an operational hub in Singapore to service a new local business, which will open early next year, as well as businesses in Hong Kong and Taiwan.
State Street’s Anderson targets US value stocks as growth dips
Global growth will struggle in 2017 and investors are advised to move away from expensive sectors and pivot to those that offer value, according to Kevin Anderson, State Street Global Advisors’ Hong Kong-based head of investments for Asia Pacific.
HK rolls out internship programme in latest fintech push
The Hong Kong Monetary Authority and the Technology Research Institute have rolled out a programme that provides fintech internships for undergraduate and postgraduate students, as part of its latest move to become Asia’s leading fintech hub.
SFC sets new rules for senior management oversight
Senior managers at financial firms must take greater accountability for corporate wrongdoing, according to a circular released by the Hong Kong Securities and Futures Commission (SFC) on Friday.
Onshore WFOE approvals speed up
While more investment management wholly foreign-owned enterprise licenses have been approved by China recently, some fund managers are way ahead.
The FSA Spy market buzz – 16 December 2016
Gifts galore: M&G’s phone box; Jupiter’s power; Driving by OMGI; Cuddles from Investec; An opening from SLI; NB and leather; Flask from Henderson; T. Rowe’s music and much more.
Singaporean HNWIs hold more cash than HK counterparts
High-net-worth individuals in Singapore hold more amounts of cash and deposits compared to their Hong Kong counterparts, according to Ivan Han, a Singapore-based senior analyst at Cerulli Associates.
Mainland robo-advisor sees modest takeup
The biggest challenge for robo-advisors in China is to convince investors to take a long-term view on passive investing, said Frank Wang, managing director at Creditease Wealth Management, which launched a robo advisor in May.
Amundi EM overweight is China equities
China risk scenarios have low probability in 2017 and valuations are among the most attractive in the region, according to Anthony Ho, Amundi Asset Management’s deputy CEO for North Asia and chief investment officer for Asia ex-Japan equities.
