This week…
| Business moves |
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China’s Harvest Fund Management has launched an ETF in China that tracks the FTSE China A50 Index. The ETF is listed on the Shanghai Stock Exchange and is the first domestically listed ETF to track a FTSE Russell Index. The firm manages 10 ETFs with assets of around $3bn. Overall, Harvest has assets of around $150bn in ETFs, mutual funds and separate accounts… Malaysia’s Am Invest has launched a global high income bond fund, according to the firm’s website. The fund, the Advantage Global High Income Bond fund, is a feeder fund that invests in the HSBC Global Investment Funds – Global High Income Bond… Schroder Investment Management has completed its acquisition of private equity firm Adveq, which has been renamed as Schroder Adveq, according to a joint statement from the firms. Schroder Adveq has offices in Zurich, Frankfurt, London, Jersey, New York, Beijing and Hong Kong… |
| People moves |
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Willis Towers Watson has appointed Fabien Conderanne as deputy head of financial solutions for Asia-Pacific. In this newly created Singapore-based role, Conderanne reports to Stuart Ashworth, Asia-Pacific managing director for financial solutions… GAM has appointed Shizu Kishimoto to lead the firm’s sales and oversee its business operations in Japan. Based in Tokyo, she joins the firm as a representative director and president and will report to Rossen Djounov, head of Asia. Before GAM, Kishimoto was Schroders’ head of intermediary sales for Japan… Newton Investment Management, which is part of BNY Mellon Investment Management, has hired Curt Custard in the newly created role of chief investment officer and promoted Julian Lyne, currently global head of distribution, to take on an expanded role as chief commercial officer. Custard was previously UBS Asset Management’s group managing director and head of investment solutions in London and Chicago. The moves are part of the firm’s decision to introduce a new management structure, which includes the new appointments and Andrew Downs, chief operating officer and James Helby, chief risk officer… |
| Hedge funds |
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Hedge fund returns were positive for the ninth consecutive month. On the aggregate, hedge funds returned an average of 1.21% in July, according to an Evestment report. Year-to-date, the industry returned 4.77%. India- and China-focused hedge funds led the industry, with India hedge funds up 25% and China-focused funds up 21% this year… |
