The asset management wholly foreign-owned enterprise (AM WFOE) is expected to have wider business scope than the three investment management WFOEs approved earlier.
Tag: China
China bank PB activity slows in 1H
Assets under management at the private banking units of 10 key mainland banks grew an average 13.5% in the first half of this year, after an explosive surge in 2015.
Mainland hedge fund managers target Hong Kong
More onshore managers are looking at Hong Kong as a place to launch offshore products.
Asia bear still growling
Even though a growing group of asset management firms are warming to emerging markets, Gary Reynolds, CIO at UK-based wealth and asset management firm Courtiers, remains bearish on the region and believes the US is the most attractive opportunity.
China ETFs gain traction
Mainland exchange trade funds reported strong August inflows, in particular the first ETF tracking China’s State-owned enterprises.
Schroders rolls out China-focused multi-asset fund
The firm believes improving investor sentiment for China and the demand for income will attract investors to its China Asset Income Fund.
China vulnerabilities “dangerous”, says IMF
The lending organisation had strong words about difficulties in “critical areas”, while Rhodium Group warned that wealth management products are behind shadow financing that is driving “unsustainable” economic growth, creating conditions similar to those that led to the 2007-2008 global financial crisis.
Northbound MRF fund sales set record in July
The four Hong Kong-domiciled funds selling in the mainland through the Mutual Recognition of Funds scheme drew RMB 1.1bn ($166m) of net sales in July, the highest since the sales started at the beginning of the year, according to the latest data from State Administration of Foreign Exchange.
EM equities see rapid rise in retail flows
Flows into emerging market funds over the last three months show a big increase, with the notable exception of China-only investments, according to retail investment platform Rplan.
UBS AM sees $3.5trn flowing into China fixed income
The firm has ambitious plans to target on and offshore investors in China and sees the asset pool in the mainland growing signficantly, said Rene Buehlmann, head of Asia Pacific and group managing director for UBS Asset Management.
