This week…
| Products |
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AXA Investment Managers has launched a multi-premia strategy fund, with initial assets under management of $1bn. The fund will be managed by the firm’s new investment team in Hong Kong, AXA IM Chorus… ETF assets in the US continue to grow. During the first quarter this year, ETF assets increased by 10% to nearly $2.8trn, according to a data from Boston-based research firm Cerulli Associates. In addition, flows into ETFs were $133bn for the period… |
| Company developments |
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Fidelity International launched a “digitally-focused” brand campaign, first in Hong Kong and Taiwan, followed by Korea and Singapore. The campaign includes videos featuring investors who are preparing for or facing life’s key milestones, such as retirement, having a baby or sending their children abroad for further education. The videos will run in social media networks such as Facebook and YouTube throughout the year… Singapore’s 8 Capital, a wholly owned subsidiary of 8I Holdings, has been registered to operate as a fund management company by the Monetary Authority of Singapore. Its registration allows the firm to manage or advise up to 30 qualified investors, of which not more than 15 are funds, and manage up to S$250m ($179.08m) of assets… |
| People moves |
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Pictet Asset Management has appointed Andy Wong as a Hong Kong-based senior investment manager within the multi-asset team. He will co-manage the Pictet Strategic Income fund, the firm’s Hong Kong-domiciled Asia-biased multi-asset fund. He joined the firm from Invesco Hong Kong, where he was a senior fund manager overseeing multi-asset income mandates for Asian investors… Hong Kong’s Securities and Futures Commission has re-appointed Ashley Alder as its CEO for another three-year term effective 1 October. He was first appointed as SFC’s CEO in 2011… |
| Enforcement |
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Retail investors in Hong Kong were penalised for illegal short selling. The SAR’s Easter Magistrates’ Court convicted Cheng Chi Fei and Wong Kin after they pleaded guilty to illegal short selling of shares of China Agri-Products Exchange. In total, they were fined HK$16,000 ($2,056.46) and were ordered to pay the Securities and Futures Commission’s investigation costs… |
| China |
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The whole world is under-allocating China, while China is under-allocating the whole world, Fan Jiang, Asia chief investment strategist at JP Morgan Private Bank, said in a panel discussion at XIE Shares’ fifth anniversary event. “There’s a huge under allocation of the sovereign wealth funds, about $14trn, to China RMB bonds, whereas Chinese pension funds and insurance companies are under-allocating fixed-income denominated in currencies,” he said… |
