Wealth management products (WMPs) sold by Chinese banks remain popular despite low yields and stricter regulations, according to a recent report from China Banking Regulatory Commission.
Tag: China
In case you missed it – Asia Fund News and Analysis
Hermes hires new member for its APAC business development team; EFG partners with GQG Partners to distribute an EM fund; Capital Group and Samsung AM launch a retirement income solution in Korea; HSBC plans to roll out a robo-advisor in the UK; China’s new cyber-security law comes into force; and others…
Wealth management puts China PBs among world’s largest
China Merchants Bank, ICBC and Bank of China are among the top 20 largest private banks globally, according to a report from Globaldata and Private Banker International.
ETF firm VanEck receives RQFII quota
US ETF manager VanEck Investments and BOB Scotia International Asset Management are among the firms that received RQFII and QFII quotas for the first time.
In case you missed it – Asia Finance News
Irish industry body launches guidebook for Chinese managers; Japan’s Asset Management One appoints Hermes for ESG services; Singapore’s MAS and IFC collaborate to advance fintech innovation in the Asean region; Hong Kong’s SFC bans ex-Citibank employee for forgery; and others…
Vanguard joins global firms in China WFOE setup
Vanguard is the latest firm to launch a wholly foreign-owned enterprise (WFOE), enabling it to carry out various onshore investment services, according to a statement from the firm.
Industrial Securities moves into private banking
Fujian-based Industrial Securities has set up a private banking arm serving China’s high net worth individuals with RMB 6m ($873,000) or more of investable assets.
Neptune China fund manager Douglas Turnbull exits
Neptune Investment Management’s £32m ($41.5m) China fund manager Douglas Turnbull has left the firm after more than 10 years.
HNA looks to buy a stake in Value Partners
Value Partners’ stock price jumped 8.6% before suspension on Monday amid reports that China’s HNA Group is looking to buy a stake in the firm.
MRF finally sees net inflows
Northbound funds under the Mutual Recognition of Funds (MRF) recorded net inflows of RMB 67.4m (9.8m), the first time in six months inflows beat outflows, according to latest data from the State Administration of Foreign Exchange.
