Earnings results
Credit Suisse’s wealth management business in Asia-Pacific generated net revenues of CHF 548m ($548.22m) during the third quarter, representing a 14% increase year-on-year change, according to the firm’s quarterly results. Net new assets this year rose to CHF 15.6bn, exceeding the full-year 2016 level…
Alibaba Group announced stellar results for the quarter ended September. Revenue increased 61% year-over-year to $8.29bn, according to a company statement. Forty out of 147 SFC-registered Asia-focused funds have more than 3% of Alibaba in their portfolios, according to FE data…
People moves
Schroders has appointed Zijian Yang as a multi-asset fund manager for the firm’s Asia business, according to a statement from the firm. Based in Hong Kong, he will be focusing on the management of the Schroders Life-Cycle funds. Before Schroders, he was previously from Allianz Global Investors Asia-Pacific, where he was a senior portfolio manager responsible for the multi-asset portfolios of institutional clients in Asia…
ETFs
Horizons ETFs Management, which is part of Mirae Asset Global Investments, has launched in Canada the world’s first global equity ETF driven by artificial intelligence, according to a statement from the firm. The Horizons Active A.I. Global Equity ETF (“MIND”). Mind monitors around 50 investment metrics and invests in major global equity indices using a basket of primarily North American-listed ETFs…
Lion Global Investors and Phillip Capital’s ETF that focuses on Singapore REITs debuted with around S$106m ($77.84m), reflecting strong pre-listing demand from investors, according to a joint statement from the two firms. The ETF is a first in Singapore that tracks the performance of domestic REITs…
ESG
Only 48% of 104 global institutional investors believe that companies that focus on ESG issues produce better long-term returns, according to a survey conducted by Hermes Investment Management. The figure represents a drop in confidence from 56% in last year’s survey. Findings also showed that 86% of investors believe fund managers should price in corporate governance risks as a core part of their investment analysis…
Fund markets
Luxembourg domiciled funds’ AUM reached a record high of €4.03trn ($4.69trn) in September, according to a statement from the Association of the Luxembourg Fund Industry (ALFI). This represents a 7.9% increase since the beginning of this year and is mainly due to net sales. Besides growth in traditional Ucits funds, Luxembourg also saw AUM growth in alternative investment funds, especially in the areas of private equity and real estate. Luxembourg is the second largest fund domicile after the US…
The Monetary Authority of Singapore released its industry transformation map (ITM) for financial services, which outlines growth strategies by business lines, programmes for upgrading skills and an agenda for continuous innovation and technology adoption. Part of the MAS’ business strategies is to be the leading international wealth management hub and the Asian hub for fund management and domiciliation…
