Although the bill now appears shelved, Hong Kong has lost some of its competitive mojo to rival wealth management centre Singapore, leading to a gradual haemorrhaging of assets.
There will now be no such mandate this year because of the difficulties involved in finding an appropriate benchmark, Taiwan’s biggest state pension fund tells AsianInvestor.
The country is approving a wider range of asset management products as eligible pension products as it wants more people to invest for their retirement.
More Chinese insurers are expanding their teams for private equity investments as interest in the asset class grows. They are still likely to have to rely on external managers though.
The Canadian institution's asset management arm has hired a senior executive to help develop its investment management business in the "must-win battlefield" of China.
The overseas investment arm of China's second-largest life insurer aims to rapidly expand international investing and its third-party business, the group's co-CIO told AsianInvestor.