This week…
| “Ireland: A Guidebook for Chinese Asset Managers” |
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Irish Funds, the representative body for the cross-border investment funds industry in Ireland, launched a guidebook for Chinese asset managers who wish to establish European fund presences in Ireland. The launch of the guidebook was made in partnership with the Asset Management Association of China (AMAC) during the Annual Global Funds Conference. It also coincides with the first-ever visit by an industry delegation from China, which includes Haitong Securities, China Asset Management, China Southern Asset Management and GF Asset Management… |
| ESG and climate change |
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Japan’s Asset Management One has appointed Hermes Investment Management’s stewardship and engagement team, Hermes EOS, for stewardship services to address environmental, social and governance (ESG) issues. The team is also providing stewardship services to the Pension Fund Association of Japan, which became the first Japan-based client for Hermes EOS in March last year… Deutsche Bank has signed an accreditation master agreement with the Green Climate Fund (GCF), which enables the bank to receive and use GCF capital and raise further funds from private sector investors to support action on climate change. The GCF aims to mobilise funding at scale to invest in low-emission and climate-resilient development in emerging economies and frontier markets. It provides loans, equity, guarantees and grants to private sector corporations in developing countries… |
| Fintech |
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The International Finance Corporation (IFC), a member of the World Bank, and the Monetary Authority of Singapore (MAS) have agreed to work together to establish and develop the Asean Financial Innovation Network. The network aims to facilitate broader adoption of fintech innovation and development, and enhance economic integration within the Asean region… |
| Enforcement |
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Hong Kong’s Securities and Futures Commission has banned Bernie Wong, a former employee of Citibank, from re-entering the industry for four months for forging a client’s signature. The regulator found that in July 2015, Wong forged a customer’s signature on a credit card application form after she agreed to have the credit card ready for collection by the customer on a specific date, but found that the customer had not signed on the form… |
| Indonesia’s investment grade status |
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Indonesia has achieved full investment grade status from S&P. The country’s long-term sovereign credit rating was upgraded to BBB- from BB+. Endre Pedersen, Manulife Asset Management’s chief investment officer for Asia ex-Japan fixed income, said in a research note that Indonesian bonds have been a major contributor to the positive return of the firm’s strategies. “We have been strategically overweighting Indonesia for several months across our Asian bond portfolios in anticipation of the upgrade by Standard & Poor’s,” he said… |
