Funds sold in China through the Mutual Recognition of Funds (MRF) scheme had a record month of outflows in June and in total lost half of assets since January, according to the State Administration of Foreign Exchange (SAFE).
UBS becomes first foreign player to apply for 51% JV ownership in China; Z-Ben says not a single Chinese fund manager is willing to sell a 51% stake; Credit Suisse poaches Julius Baer veteran; UTI AM launches an India multi-asset fund in Singapore; HSBC launches two lower carbon funds in Hong Kong; HKMA alleged to launch a crypto investment product; and more…
Oil contracts and Ucits funds have begun offering renminbi-based products after China scrapped some foreign exchange controls to catch up with international currency standards.
Noah opens Australia office; Bank of Singapore hires for Europe; OMGI outsources its China equity fund to Ping An of China; JPMAM’s head of Asia fixed income leaves; EIP names head of Asia investment; HSBC Global AM launches Asia fixed income fund in Singapore; ESG initiatives from Franklin Templeton, Robeco and Eastspring; T Rowe Price and Capital Group win Morningstar “best fund house” awards; and more…
China’s middle class continues to expand in number and in income, creating investment opportunities in the food and beverage industry as well as casinos, according to Mandy Chan, head of China and Hong Kong equities at HSBC Global Asset Management.
Hong Kong’s Hang Seng Bank reported a 33% increase in income generated by its wealth management business, driven by strong demand for investment products.
T Rowe Price has launched two income funds with a local partner in South Korea under a low interest rate environment in the country.
FSA compares two UK passive funds: the HSBC FTSE 100 Index Fund and the Vanguard FTSE UK All Share Index Unit Trust Accumulation Fund.
The equity market in Russia had a miserable 2017, but it may perform better in 2018 due to the expectation of interest rate cuts and an expanding domestic economy, said Nick Timberlake, head of equities at HSBC Global Asset Management.
It’s First State vs HSBC in a quick comparison of two China growth equity funds.