CITIC Bank confirmed to mainland media that Ma Xutian, its head of asset management business and chief investment officer, is under investigation.
Tag: China
MRF northbound sales reach $415m in 1H
Hong Kong mutual funds selling in the mainland under the Mutual Recognition of Funds scheme reached RMB 2.77bn ($415m) in net sales in the first half, 45 times higher than the opposite flows.
Higher sector risk after Singapore bond defaults
Asset managers believe that the country’s bond defaults are a concern, but stopped short of saying they would spread outside the energy-related sectors.
Despite returns, QDII quota in demand
Domestic market volatility and currency concerns are driving demand for QDII quota, which allows offshore investment, but authorities have shut the door on new quota.
StanChart sees EM currency slide coming
Standard Chartered Bank has revised its forecast for the renminbi following Brexit, and now expects the currency to devalue further this year.
CS: Capacity cuts boost China’s commodity sector
Commodity prices have rebounded since the start of the year and A-share commodity stocks are expected to outperform in the third quarter, Credit Suisse said.
China’s HNWI urged to diversify offshore
Chinese high net worth investors need to allocate assets overseas to hedge country and currency risks, experts said in a forum held in Shanghai.
China’s regulator probed 350 AMs
The Asset Management Association of China has completed 69 enforcement requests since last July, which involved 349 firms totaling 1585 products, including four mutual fund houses.
Mutual fund licence allows shift to retail focus
Pengyang Fund Management became China’s first mutual fund house set up by a group of domestic “private securities fund” managers, opening the door to retail market sales.
Falling RMB to hit onshore bonds
The Chinese renminbi may depreciate milder in the coming 12 months, but it will still be enough to impact the return generated from fixed income products, strategists said.
