The path to success in China for a foreign fund management firm is the joint venture with a Chinese firm, argues Xianzhou Jiang, vice chairman and CEO of China Construction Bank (Asia), even though wholly foreign-owned enterprises (WFOEs) are now allowed to launch investment products on the mainland.
Tag: Hong Kong
FSDC proposes new structured products
Hong Kong’s Financial Services Development Council (FSDC) recommends broadening of the domestic listed structured product range by introducing yield enhancement, participation and capital-protected products.
HK fines Coutts HK$7m for AML breaches
The Hong Kong branch of Coutts has been fined by the Hong Kong Monetary Authority (HKMA) for failing in its anti-money laundering (AML) and counter terrorist financing (CTF) checks.
Survey: HK and SG playing catch-up in fintech
Hong Kong and Singapore financial industry firms see themselves as laggards in fintech innovation, according to a research report by Simmons & Simmons.
HK retail advisor app tests fund distribution waters
Yunfeng Financial Group’s newly-launched Youyu Robo-advisor enables mutual fund investment on a mobile app, and the firm says a lineup of global asset managers are on board.
Robo-advisories face headwinds in China
Robo-advisories will likely take a long time to be accepted in China, according to the CFA Institute.
Retail capital flowing into multi-asset funds
Retail sales of global multi-asset funds in Hong Kong surged in December 2016, suggesting the retail base is now seeking diversification.
Mirae lays bets on passives
Korea-based Mirae Asset has ambitious plans for global ETFs and Hong Kong will play a key role, said global head of ETF business Taeyong Lee.
In case you missed it – Fund News and Updates
Schroders and Vanguard launches funds for MPF’s default strategy; China’s AUM hits $9trn; Hong Kong’s SFC increases enforcement activity; Singapore’s MAS fines a fund manager for late submissions; more fintech partnerships and more…
Firms digest Singapore’s new fund structure plan
An early response suggests adoption by asset managers will depend on how the new corporate structure is taxed.
