This week…
| People moves |
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State Street Global Advisors has promoted Mark Hui as head of global equity beta solutions for Asia (ex-Japan). Based in Hong Kong, he will oversee SSGA’s Asian equity index portfolios and will report to Susan Darroch, head of global equity beta solutions for Asia-Pacific (ex-Japan). Hui first joined SSGA in 2015 as a senior portfolio manager responsible for indexing investment management in Asia ex-Japan… Natixis Global Asset Management has appointed Tony Huang as general manager and head of institutional business development for Taiwan. Based in Taipei, he will report to Kinji Kato, executive managing director and head of Japan. Before Huang joined the firm, he was previously a senior vice president and head of business development for Taiwan at Neuberger Berman… Capital Group has appointed Shen Tan as managing director for institutional distribution for Asia ex-Japan. Before joining the firm, he was previously Income Partners’ managing director and global head of relationship management… |
| Money flows and mandates |
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New Zealand-owned investment management and superannuation firm Gareth Morgan Investments has awarded a global equity mandate to JP Morgan Asset Management, investing in the JP Morgan Global Research Enhanced Index Equity Strategy. The mandate is one of the largest separate accounts within the strategy that includes ESG integration as part of the investment process… Australia’s AMP Capital’s infrastructure debt fund has attracted around $1bn from Asian institutional investors. Korean and Japanese investors committed around $300m and $700m in the strategy, respectively. In total, the fund raised $4.1bn from around 125 investors from 12 countries and is believed to be one of the largest in the world for an infrastructure debt strategy… Investors globally added around $7.91bn in hedge funds in July, bringing year-to-date flows to $30.5bn, according to an Evestment report. Year-to-date, macro strategies saw the biggest net inflows ($13.6bn), while event-driven strategies saw the biggest net outflows (-$5.27bn)… |
| Enforcement |
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Hong Kong have convicted Fonia Kwok and Lawrence Ho for performing asset management functions under the name Finamics Capital Management without licences from the Securities and Futures Commission. Kwok and Ho pleaded guilty and were fined HK$5,000 ($639) and HK$4,000 respectively and ordered to pay the SFC’s investigation costs. Around nine clients invested a sum of around HK$7.5m and suffered around HK$2.5m from their trading via Finamics. Finamics charged the clients 40%-50% of the net profits as commission on a monthly basis and made a gain totalling around $946,514 from the trading… |
