In 2014, mainland asset management firms accounted for HK$988bn ($127bn) or 5.6% of Hong Kong’s fund management business, the SFC said.
HK fund management business hits record $2.2bn
Hong Kong’s combined fund management business rose 10.5% last year to reach a record high of HK$17.68bn ($2.2bn), with a strong contribution from global investors, according to an SFC survey report.
MRF draws in Hong Kong asset managers
Hong Kong has received 14 applications for products wishing to take part in China’s mutual recognition of funds (MRF) since the scheme launched on July 1.
Amundi floats thematic ‘global ageing’ fund
The firm has launched a Hong Kong-domiciled fund aimed at sectors linked to the theme of global ageing.
MRF initiative to expand quickly: Consulting firm
The mutual recognition of funds initiative offers the best strategic growth opportunity for asset managers over the next ten years, according to Z-Ben Advisors.
Principal Global aims to use MRF
Principal Global Investors intends to distribute funds through the mutual recognition of funds initiative, and is in talks with joint venture partner China Construction Bank about mainland products, said Kirk West, head of international offices and chief executive officer of Asia.
China’s asset managers well-positioned for MRF
A study of mainland asset managers shows those that have foreign partnerships or Hong Kong offices have an edge over those with foreign joint ventures when it comes to cross-border funds, according to Cerulli Associates.
HK, China mutual recognition of funds to take off 1 July
The Securities and Futures Commission and the China Securities Regulatory Commission today said they have signed a cooperation pact for the initiative and agreed on the implementation principles. “The mutual recognition of funds initiative is a major breakthrough in the opening up of the mainland’s funds market to offshore funds,” the SFC’s chairman Carlson Tong […]