Hong Kong-based Carret Private has acquired QL Asset Management and plans more deals with both asset and wealth managers and financial technology firms, as it targets a presence in Singapore.
Kenneth Ho has quit the Swiss private bank and is looking to build capacity after starting at Carret AM as managing partner and founder of its Asian multi-family office out of Hong Kong.
Kenneth Ho is moving into a strategic project role at the Swiss private bank, and Luigi Vignola will replace him as Asia head of the investment solutions group.
Private bankers are not expecting commission- or retrocession-free rules in Asia soon. Fee-for-advice is possible within a decade, but firms may need to package it with additional services.
The bank aims to invest mostly in value-driven A-shares. Its fund started trading two weeks ago and has raised $65 million already, with a Europe roadshow on the horizon.
Kenneth Ho explains the product selection process and underlines the importance of new hire Mark Matthews. The firm also grabs a team of Greater China client advisers from UBS.
Capital Group names new Japan president; Robeco replaces Singapore chief; Hillhouse Capital hires ex-Blackstone MD; Vontobel expands EM debt team; HSBC Global AM names Apac ETF sales head; Manulife creates new digital business role; Stanchart names CIO for wealth management; TMF appoints fund services exec in Shanghai; and more.
The Korean public pension fund has split its global public market division and will hire 38 personnel across divisions as it looks to drastically increase overseas investments by 2025.
JP Morgan AM hires Asia head of investment stewardship; Hines appoints Asia CIO; JLL names new India CEO; William Blair IM hires Asia sales head; Colliers appoints new Australia chief; Fidelity moves into private credit; Broadridge adds Apac COO; Nomura adds 20 private bankers in Hong Kong and Singapore and more.
The number of lenders reducing their Asian exposure is seen to be growing fast amid the coronavirus crisis, leaving asset managers keen to fill the financing gap.
Private assets continue to attract capital as investors seek better returns. While private markets can continue to deliver, they will increasingly rely on hard-to-access areas and specialist skills, says Georg Wunderlin, global head of private assets at Schroders.
Experts say the country's debut sovereign wealth fund needs full investing independence to attract international assets, but this appears unlikely according to current plans.
Taiwan’s state pension fund has pledged to regulate external managers more strictly after the bribery scandal, but the additional red tape could turn away some fund houses.
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