The French fund house will cut poorly performing and overlapping funds and focus on products close to client preferences, as it aims to build Asia AUM, said the group deputy CIO.
Hong Kong's securities regulator has reprimanded UBS employee Winnie Pang Wai-Yan and fined her HK$120,000 $15,500 for negligence in handling a client’s trade orders.
Investors says they are looking for key areas of focus, including the new leadership's composition, capital controls, property and state-owned enterprise reforms.
Global risk appetite is growing, according to the Bank of America Merrill Lynch fund manager survey. Cash levels are down, while equity allocations and growth expectations are up.
Asset managers seek the right balance between automation and human intelligence, as robotics allow sweeping changes in the industry.
The $126 billion state pension fund will hand out the new overseas-focused mandate in mid-November, amid rising volatility in global markets.