This week…
| People moves |
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Hermes Investment Management has appointed Tai Watanabe as a Singapore-based business development assistant manager for Asia-Pacific, according to a statement from the firm. He reports to Jakob Nilsson, head of Asia-Pacific and business development and will be responsible for supporting the development and execution of the Hermes Asian Pacific sales and distribution strategies across both its Asian institutional and wholesale business… |
| Asset management news |
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EFG Asset Management has partnered with GQG Partners as an exclusive distributor of the GQG Partners Emerging Markets Equity UCITS Fund in Switzerland and Singapore, pending registration and fulfilment of any other regulatory requirements, according to an EFGAM statement. The fund invests in high quality, large-cap companies in emerging market economies and is managed by Rajiv Jain, GQG’ Partners’ chairman and chief investment officer… Capital Group and Samsung Asset Management have launched a Korean retirement income solution, the first withdrawal pension fund solution in Korea to offer varying possible withdrawal rate options, while preserving as much ending principal as possible with minimised volatility in returns, according to a joint statement from the firms. The solution is modelled on Capital Group’s American Funds Retirement Income Portfolio Series designed for US investors… The concentration of assets among the biggest mutual fund players in India has intensified, according to a Spence Johnson report. The AUM share of the top 10 players rose to 80.6% by the end of March this year, from 78.4% the year earlier… |
| Institutional investors |
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Global institutional investor flows were positive during the first quarter with aggregate net allocations of $17.9bn to long only strategies, according to an Evestment report. US fixed income strategies led the way for flows, where allocations reached $70bn during the quarter. Flows were also positive for passive US and passive non-US equity strategies at $29.6bn and $13.5bn, respectively. Sovereign wealth fund Russian Direct Investment Fund (RDIF) has agreed with Polyus Gold International to purchase a minority stake in PJSC Polyus, which is a leading Russian gold producer, according to a statement from the RDIF. The purchase will be carried out alongside the investment of China’s Fosun Group, which also announced the strategic transaction with respect to acquisition of 10% stake in Polyus. |
| Technology |
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HSBC announced on Thursday that it plans to launch in the UK an online investment advice service by the end of the year, according to a Business Insider report. The service will use data and algorithms to deliver advice and personal recommendations based on an individual’s circumastances. The product is still in development and the bank is in conversation with the UK’s Financial Conduct Authority… China’s new cyber-security law came into force on 1 June. The most significant and controversial change is that Chinese citizens’ personal information and important data must now be stored on servers within China. Any companies claiming an exception must undergo a security assessment before information can be released, according to a report from technology firm Kroll Discovery… |
