Here we present the stories from our daily newsletter that attracted the most attention in May, with number one the recipient of the most hits. We do not include in the list the roundups of people news we publish every week. 

1. Value Partners shakes up leadership team
Out the door go the Hong Kong fund firm's deputy CEO, ETF chief and three others, and in comes a new head of sales, following the arrival in December of new CEO Au King-Lun.

2. Business heads exit Mercer after restructure
Several investment business heads have left the consultancy following a group-wide shakeup. They include two executives in Asia and the global head of alternatives.

3. AI100: the 25 biggest managers of Asian assets
Japanese firms dominate the top 25 in our list of the biggest managers of money in Asia Pacific, while some of the largest Western players have posted healthy asset growth.

4. China Life’s new tie-up with Manulife AM explained
A landmark investment partnership between the biggest mainland life insurer and Canada's Manulife Asset Management looks likely to herald more such deals.

5. Aberdeen names new Asia-Pacific COO
The UK fund house has appointed a former Goldman Sachs executive to succeed Andrew Narracott as it continues its merger with Standard Life.

6. HSBC GAM names China and Asean institutional heads
The fund house has poached Bin Han from Credit Suisse amid a raft of recent hires to its institutional and wholesale teams across Hong Kong and Singapore.

7. AMP Capital dismantles Asian equity team
The firm says a review of client investment priorities has led it to globalise its equities focus, hastening the departure of its Asian equities team.

8. First State Investments hires Hong Kong sales duo
The Australian fund house has poached from Deutsche Asset Management and Invesco to add to its private bank and intermediary sales teams for North Asia.

9. Gam replaces Asia head amid global shakeup
The Swiss fund house has named a new regional chief. His predecessor and the Asia head of distribution have departed, the latter to UBS Wealth Management.

10. Variation in L&I ETF volumes in HK raises questions
Certain leveraged and inverse exchange-traded funds newly listed in Hong Kong are being traded far more heavily than others, which has led some to question the source of demand.