Offshore assets that global managers can potentially tap are expected to hit $1.1trn in 2021 — 17% of the total assets from mainland institutional investors, according to consultant Z-Ben Advisors.
Tag: China
MRF northbound sales surge in August
Northbound net flows under the Mutual Recognition of Funds scheme hit RMB 3.95bn ($593m) in August, 3.6 times the figure in July (RMB 1.1bn), according to the latest data from the State Administration of Foreign Exchange.
China’s capital outflows increase for fourth straight month
In August, $51bn left the mainland, according to Standard Chartered estimates, as authorities increased support for the mainland currency, which is under devaluation pressure.
China partnership a route to HNWI opportunity, says UBP
A partnership with an onshore bank is the preferred path for access to the mainland HNW base, according to Michael Blake, Union Bancaire Privee’s chief executive of Asia.
Report: SocGen to sell stake in China JV
Societe Generale is mulling the sale of its 49% stake in Fortune SG Fund Management, China’s 16th largest mutual fund house, according to industry reports.
China relaxes RQFII quota rules
The Chinese authorities have eased the quota system and the rules for repatriation of capital for overseas institutions investing in onshore assets.
JP Morgan sets up China’s first AM WFOE
The asset management wholly foreign-owned enterprise (AM WFOE) is expected to have wider business scope than the three investment management WFOEs approved earlier.
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.
