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Its economy is still growing, albeit more slowly, and the government has plenty of levers left to pull.
China Asset Management (Hong Kong) will manage the seven Hong Kong-listed ETFs given up by Canada’s BMO Global Asset Management.
Bank of Montreal (BMO) has discarded its Hong Kong-listed ETFs and has also agreed to sell its EMEA asset management business.
The acquisition will include clients and relationship management teams.
BMO Private Bank Asia has partnered with the Canadian government to provide its clients access to venture capital and technology sector investments.
BMO Financial Group has named Ravi Sriskandarajan as managing director and head of BMO Global Asset Management in Asia-Pacific.
Nasdaq intends to build partnerships, roll out education efforts and convince Asia’s retail investors to take exposure to exchange traded funds, said Rob Hughes, head of index and advisor solutions at Nasdaq.
Volatility in global markets has nudged private bank clients toward absolute return type funds, said Edmund Yun, executive director, head of investment for Asia at BMO Private Bank.
Offshore fund houses attracted by the growing wealth in Asia are setting up in the region, but not all distinguish themselves from competitors, according to BMO Private Bank’s Edmund Yun.