Domestic agencies tend to rate domestic firms more favourably than their foreign peers, but the difference is particularly striking in China.
The country has adopted new measures over local bond issuance and credit ratings. These may have little impact on defaults but could increase the participation of foreign investors.
In spite of the fee cap, Allianz GI's Elvin Yu believes his firm can add value to the core MPF structure and maintain a viable business
Money managers in the US are confident Greece’s default this week will not lead to contagion or impact the US Federal Reserve’s stance on raising interest rates.
Fund managers' greatest fear is geopolitical crisis followed by debt defaults in China, while sentiment towards emerging markets as a whole has plunged, finds a buy-side survey.
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.