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In case you missed it (5 July 2019)

Western Asset appoints Apac (ex-Japan) head of client service and marketing; Hang Seng IM launches fixed term bond fund; BNY Mellon IM names distribution partner in Taiwan; SFC grants 23 asset management licences in June; Mark Mobius publishes book on sustainable investing; and more...

FROM THE PRESS RELEASE DESK THIS WEEK…

 

People moves

Western Asset Management has appointed Michael Dale as head of Asia-Pacific (ex-Japan) for client service and marketing, as well as head of the Singapore office. Dale, who relocated to Singapore from Melbourne, will be responsible for strategizing, planning and executing Western Asset’s strategy for client service and marketing across the region, with a key focus on deepening relationships with current clients. Dale joined the firm in 2015 as head of client service and marketing for Australia. Before that, he was in various roles at Pimco

Business moves

Hang Seng Investment Management has launched the Hang Seng Asia Bond Fixed Term Fund 2022 in Hong Kong, according to the firm’s website. The fund will invest in a portfolio of mainly US dollar-denominated Asian debt securities. Since the fund has a fixed maturity date (11 April 2022), it will not accept subscriptions after the initial offering period, which is from 4 July -16 July…

BNY Mellon Investment Management has partnered with Taiwan Cooperative Securities Investment Trust to be its third party distribution partner in Taiwan. The partnership will see Taiwan Cooperative distribute BNY Mellon IM’s funds to the wholesale and retail markets in Taiwan. Both firms have also worked together to co-launch two Taiwan-domiciled funds, which are based on the six-year emerging market bond and the mobility and innovation strategies…

The Securities and Futures Commission granted 23 firms Type 9 (asset management) last month, according to the regulator’s records. These firms include Noah Holdings’ Gopher Redwoods Asset Management, which seeds small domestic Chinese asset management firms, and Diginex, which will focus on digital investment strategies. Another licence recipient, Actelligent Capital, makes use of social media, machine learning and data science to enhance investment returns, according to the firm’s website. On the flipside, the regulator removed Type 9 licences from two firms last month, which are Seyon Asset Management and Silk Road Finance Asia

ESG

Mark Mobius, together with Carlos Hardenberg and Greg Konieczny, have written a book on sustainable investing – “Invest for Good: A Healthier World and a Wealthier You”. The book aims to give readers a clear understanding of what sustainable investing is and will include anecdotes from the authors’ day-to-day experiences in the world of sustainable investment. Mobius has written other books, including “The Little Book of Emerging Markets”, “Passport to Profits” and the Mark Mobius Masterclass Series…

Technology

The Monetary Authority of Singapore will issue up to five banking licences, which will include two digital full bank licences and three digital wholesale bank licences. The full bank licences will allow licensees to provide a wide range of financial services and take deposits from retail customers. The wholesale bank licences permit services to small-to-medium enterprises and other non-retail segments. The regulator expects to invite applications in August and will provide more details on the eligibility and admission criteria at that time…

Singapore-based blockchain development firm Hashstacs has launched an enterprise blockchain. With the sandbox, companies can test the viability of their in-house blockchain solutions in a compliant, secure and isolated environment without disrupting existing business operations. Firms joining the sandbox include a European stock exchange and Asean-based asset managers…

 

Part of the Bonhill Group.