Asian Infrastructure Investment Bank installs CIO; search firm Stemp starts IM practice; RBC WM names Asia team lead; Nikko AM adds EM debt PM; Amundi replaces alternatives CIO; Pimco appoints Emea chief; and JP Morgan Private Bank hires Emea equities head.
The Chinese firm's Hong Kong unit is seeking to have an RMB bond fund approved by Christmas as the first of several Ucits funds. It plans to open an office most likely in London.
Online travel agent Tuniu Finance has started selling funds run by China Universal and is tipped to benefit from analysing its customer data to make product recommendations.
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.
The Hong Kong unit of China Universal AM closes IPOs for its two ETFs today, having targeted buyers in Korea, Taiwan, Singapore and HK. It will list the funds in HK on May 12.
The CEO of China Universal discusses the benefits of investing in primary markets, and says a default of a trust or wealth management product in China would be no bad thing.
China Universal is readying an RQFII ETF, which it says will offer lower management fees than its peers.
Market sources say HuaAn, China Universal, Da Cheng International and Bosera all plan to launch RQFII ETFs with their new quotas.
Managers report successes in selling short-term wealth management bond funds copied from banks, but this may be a passing fad.
Negative Chinese stock-market performance has hurt domestic mutual-fund returns, with not a single mainland asset manager making a profit in the second quarter.
Sheldon Gao of Schroder Investment Management and Standard Life Investments' Doris Wong will head up China UniversalÆs new office in Hong Kong.
China Universal's new index fund linked to the Shanghai Composite Index marks a breakthrough for the young firm.