Our 14th and 15th most influential selectors are Bruno Lee of Manulife, who is helping the insurer reposition in Asia, and Rosita Lee, a 20-year veteran of Hang Seng Bank.
The Canadian insurance asset manager has lost a senior executive in Hong Kong as the group integrates its wealth and asset management units.
The city's funds association has tabled proposals which would see savers offered tax incentives and cash rebates in return for higher levels of pension contributions. But the plans face a sceptical public.
Julius Baer names new Asia chief; StanChart hires discretionary director; La Trobe boosts distribution sales team; Axa RE IM opens Seoul office; Eversheds hires partner for PE; and White & Case moves to Korea.
Net fund sales in the city fell by 50% in the first half of this year, new industry data shows. The sharp fall has been blamed on global economic uncertainty, but an association is hopeful sales will revive later this year.
Fidelity’s Asia head of retail is to join Manulife AM as the asset manager attempts to expand its regional distribution platform. And Fidelity has named the executive who will replace Lee.
Hong Kong's funds industry must work with authorities to develop models and products to cater to investors at home, on the mainland and overseas, says the chairman of industry body HKIFA.
The fund industry's arguments over active management have been dismissed by the Hong Kong government and the pension authority, paving the way for the introduction of a low-cost and largely passive default fund.
Funds in Hong Kong saw $1.1 billion in outflows in December as nervous investors pulled money, but the city still recorded its highest-ever retail sales over the course of last year.
It has included Aberdeen Asset Management, First State Investments and Investec Asset Management to its open-architecture offering. But Cerulli sees difficulties with the model.
Only one in three is using the link with Shanghai two months after launch due to technical and legal issues, but optimism remains that these will be resolved and trading will pick up.
A rebound in global and regional equity funds has seen Hong Kong record positive inflows, although bond and balanced vehicles have suffered. A bright future is forecast for RMB product.