Hong Kong’s mandatory provident fund trustees are facing a backlash for receiving high fee incomes despite offering poor returns and could see pressure to allow withdrawals.
The emerging markets fund manager has reduced headcount and handed back its licences in Hong Kong in the face of economic uncertainty. But it retains a research function in the city.
The US multi-affiliate firm, formerly Old Mutual Asset Management, is closing its Hong Kong umbrella sales office as part of a change in strategy amid the Covid-19 pandemic.
The asset manager will reorganise its fixed income investment team in Asia after the departure of veteran Bryan Collins next month. His expertise will be missed, said Morningstar.
Distressed fund managers with the support of asset owners are beginning to seek Asia opportunities. They could start in the equity markets, before looking to assets like property.
The Chinese insurer is targeting various asset classes as it looks to diversify overseas via its new Hong Kong operation, despite market uncertainties.
Wealthy Asian families have abundant dry powder but are largely holding fire on investments. Property, for instance, is expected to fall further, but Reit opportunities look to be emerging.
The US fund house’s Asia chief and global chief operating officer has departed after a year-and-half in the role, along with a fixed income strategist.
The departure comes as the German fund house cuts a layer of management in the multi-asset division globally.
The British asset manager has internally re-assigned the duties of Kang Puay-Ju and David Lam following their departures.
The trade-off between the needs of today and the desires of tomorrow is challenging the retirement savings systems in Asia as Covid-19 forces early withdrawals.
Hong Kong could steal a march on Singapore and benefit from a rebound in China’s private equity activities if its limited partnership bill isn't held up in the legislative process.
Larger life insurance firms are likely to pursue private asset investing more assertively. Some think that they could look to structured equity products that hedge risk too.
China's third biggest insurer is growing the Hong Kong unit with an eye on more foreign assets, a planned London listing and, ultimately, managing money for external clients.
The recent departures include those of three segment chiefs for Asia-Pacific: the chairman for alternatives and heads of index strategy and of client relationships for factor strategies.
As its institutional asset base in Asia grows, the Scottish fund house has located a dealing duo in the region after launching an onshore China business late last year.
In a move that refocuses its product offering and institutional coverage, the US-based asset manager has pared its equity investment capabilities in Asia and the UK.
The Hong Kong fund house has laid off senior executives, including its Southeast Asia head and managing director for alternative products, as it moves to rationalise its business further.
The institutional fund distribution platform is pressing ahead with its second Asian branch, despite uncertainty following months of protests and, more recently, the coronavirus.
Hong Kong is competing with many of its regional peers to develop itself into a green finance hub. But there is one thing that the city should first do to realise this ambition.