Four executives have left the Chinese fund house’s offshore unit in recent months to join other firms.
The mainland securities regulator has given approval for asset managers to manufacture funds of funds, and some firms have been working towards this in recent months.
The weakening renminbi has boosted demand for foreign assets, leading Chinese fund firms – already short of QDII quota – to suspend subscriptions or switch to using Stock Connect.
China’s first private internet bank WeBank has launched its mobile digital platform, which will distribute six actively-managed funds from China Universal AM and Bosera Funds.
Invesco Great Wall has completed its fundraising for the first China mutual fund to invest in Hong Kong shares via Stock Connect. Another 20 such funds targeting the city's stocks are expected to follow suit.
The HK subsidiary is set to list offshore renminbi ETFs in Hong Kong and New York and is in talks with global partners. It is also seeking to double its staff in Hong Kong to 40.
Barings hires new HK/China equities head, Loomis Sayles appoints EM head, AMP Capital makes changes, Bosera PM arrested, sell-side moves at Morgan Stanley and JP Morgan.
Two more Chinese fund houses have received permission to roll out domestic gold ETFs, with managers saying they will drive competition despite a slumping gold price.
Temasek names new chairman, L&G hires ex-State Street MD, Bosera appoints new GM, RBC WM grabs more Sarasin execs, Allianz GI names EM debt specialist
The Chinese fund house’s head of sales and marketing for its international business has left to join the Canadian group. Meanwhile, it has poached from E-Fund.
Bosera Asset Management’s Keith Li is overseeing the Shenzhen-based fund house’s application for licences in Hong Kong.
The trend in China towards passive investing bodes well for both asset managers' products.