This week…
Firm news
Hong Kong’s Value Partners is looking to launch an Asia ex-Japan equity fund as part of its “Smart investment strategy” in Europe, which are Ucits funds, according to a spokeswoman at the firm. The firm is currently awaiting approval from the Irish Central Bank and expects to launch the fund over the next few months. This follows the launch of the firm’s Smart global emerging markets fund in Europe and in the UK…
UBS’ global wealth management profits before tax increased 4% year-on-year to CHF 1.01bn ($1bn) during the third quarter, according to its quarterly report. Mandate and managed account penetration increased to 32.9% of invested assets and loans increased 7%. Net new money was CHF 2.5bn for the quarter…
ESG
A Schroders study shows that investors’ “ethical behaviour” in daily life influences whether they invest in sustainable investments. For example, the study claims that 62% of those who buy organic food also invest in sustainable investment funds…
BNP Paribas hosted its second sustainable future forum in Singapore yesterday. The full-day agenda explored topics including managing energy transition in Asia-Pacific, unlocking private sector capital to finance development projects and an executive leaders’ debate on whether sustainability actually helps improve profitability. Separately, the bank announced that it will no longer finance oil and gas from shale and tar sands projects or companies for which these products are the centerpiece of their business…
People moves
Eaton Vance has appointed Richard Froio as a Boston-based vice president and chief compliance officer. Before Eaton Vance, he was previously Pimco’s deputy chief compliance officer for advisory and funds, and chief compliance officer for distribution…
The Monetary Authority of Singapore announced senior management changes. It has appointed Tan Yeo Seng in the newly-created role of chief cyber security officer. He will hold this new role concurrently with his role as executive director for technology risk and payments department. Ho Hern Shin, currently executive director for the insurance department, has been appointed as assistant managing director for banking and insurance. She replaced Chua Kim Leng, who has requested to take up an advisory position for the financial supervision group. Loo Siew Yee was named as assistant managing director for policy, risk and surveillance and will replace Wong Nai Seng, who will leave the regulator in early 2018 to pursue other interests. The new appointments will take affect on 1 December…
Regulation
The MAS has released a consultation paper on liquidity risk management framework for fund management companies. The framework seeks to provide guidance on sound practices in liquidity risk management of collective investment schemes. The deadline for the submission of comments is on 27 November…
