Our next two most influential selectors are Alfred Mak, who has helped develop Bank of East Asia's wealth business, and Richard Mak of Pictet, whose team is his firm's link to Geneva for fund houses.
Tag : bank of east asia
Bank of East Asia is looking for the right time to participate in mutual recognition, but not when it launches tomorrow. Its products head says he has concerns over valuations of A shares in China funds.
Fund firms suspect high distribution costs in China will generate thin margins in the scheme's early days, but having to hire a distribution agent could help as they consider how to scale up.
Principal Global Investors has been meeting distributors to discuss them selling its funds in mainland China, having made several recent senior appointments.
JP Morgan becomes the latest foreign bank to receive a licence to sell mutual funds to mainland investors but, unlike its peers, it will focus on institutional investors.