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This Month
04   On the move
       Konyn succeeds Chu at AIA; Falcon moves to Asia chief at JP Morgan AM; Manulife adds role for Bruno Lee; Tan gets ultra-wealthy job at StanChart; BMO hires private bank head; Lima to oversee wealth at HSBC

06    Regulatory Analysis
        Why are Hong Kong and Singapore being overshadowed in the fintech revolution?

07    Regulatory Roundup
        China urged to synchronise rules; Japan targets stewardship progress: Indonesia adds flexibility for pension funds, insurers; Thailand to update rules on risky products

08    Data Centre
        An Asian passport represents the biggest threat to global domination of Ucits

10    Asset Owners
        Hedge fund incubators
Family offices are growing in importance as a source of capital for hedge funds in Asia

14    Asset owners feel benefit of equity diversification
        Shift in allocation has had profound effect on returns

20    Q&A: Arj Seriniyom, head of investments, Thai Life

22    News: NCSSF tipped for expansion; Malaysia’s EPF to grow foreign exposure; SWF plan still in play for Taiwan; RBI weighs investment options

24    Distributors
        Direct distribution on Asia’s radar
        Banks remain the key channel, but regulators and fund houses are alert to the rise of direct-to-consumer platforms

26    Q&A: Paul Hodes, Asia head of consumer bank wealth management, Citi

28    News: HK-domiciled funds get MRF boost; UBP-Noah venture eyes wealthy Chinese; Tencent launches WeBank app; Deutsche targets HNWIs, retail distribution

30    Fund Managers
        China Stars
        We identify the top 10 stock-pickers in China with proven skills to navigate the nation’s difficult economic transition

38    Investors are fleeing emerging markets over growth fears and dollar strength. But is it justified?

44    How smart beta ETFs are having an identity crisis in Asia

48    India: Sebi chairman U.K. Sinha talks about striking a balance between industry rules and healthy growth

54    Korea: Reforms to create a level playing field on tax should be positive for fund groups, but doubts remain

56    Q&A: Christoph Rubeli, partner and co-CEO, Partners Group

58    Australia: The nation that invented infrastructure as an asset class now finds its institutions’ appetites cool

61    News: Yuan devaluation tremors felt; Taiwan to act after rout; Deutsche exits India funds market; Asiya onboards new team for Asia launch; first RQFII licence in North America

64    Bookend
        Gauge the sage: Confucius and the World he Created by Michael Schuman