Fund executives put the territory well ahead of mainland Chinese cities and Singapore in this regard, despite certain reservations, finds a survey by BBH due for release today.
It would make little sense for China to accept Ucits funds or to merge with other Asian passport schemes, says Sean Tuffy, head of regulatory intelligence at custody bank BBH.
Savills IM names Asia AM chief; Sanctum plans hires after RBS deal; HK SFC names interim enforcement head; Robeco gets new chairman and CEO; and BBH names new global boss.
Chinese managers are tipped to increasingly look to independent overseas listings of ETFs, without a foreign partner. But they face difficulties in building their own infrastructure to support products.
A recent example of this was the September approval of only the second HK-domiciled ETF for sale to Chilean pensions. Sean Tuffy of Brown Brothers Harriman expects this momentum to build.
ABN Amro Private Banking, BNP Paribas Wealth Management and BNY Mellon all make senior hires.