China’s third-largest insurer will target long-term strategic investments into overseas insurers after its $1.81 billion GDR listing in London, says its group chief investment officer.
.jpg&c=1&h=194&q=100&v=20231804&w=344)
Tag : london
We asked two investment specialists and one custody services expert what the outlook for the upcoming Shanghai-London scheme is, given the uncertainty surrounding Brexit.
The Chinese firm is postponing its UK plans due to Brexit-related uncertainty and lower foreign demand for RMB assets. Still, it expects mandates from European investors to start flowing soon.
Retail investors may be fleeing UK real estate funds, but institutions are staying put, says Kiran Patel, CIO of Savills Investment Management. However, he does expect a drop in returns.
But some feel Europe’s financial services industry may become less concentrated in the UK capital as a result of Brexit, with asset managers, for instance, potentially moving businesses elsewhere.
Investment industry participants flag concerns about short-term market moves and long-term business complications that would result if Britain votes to exit Europe this coming Thursday.
Even big Chinese institutions are being outbid for trophy assets and a growing number of Asian real estate deals are falling through, say market participants.
Haitong Securities secured its entry into the European market last year by buying a Portuguese investment firm. A senior executive outlines to AsianInvestor what the Chinese fund house intends to do now.
Pending licence approval, the international arm of China’s Harvest Fund Management is preparing to open a London office up early next year as a gateway to sell products in Europe.
The fund house has applied to Chinese and French authorities to list an RMB-denominated exchange-traded fund in London in the belief there will be long-term demand.
Will London, Singapore or the Shanghai free trade zone emerge as the pre-eminent offshore renminbi centre after Hong Kong? That depends on several things, said attendees at a conference this week.
The Chinese manager plans to list an FTSE A50 Index ETF on the New York Stock Exchange this June after receiving an additional Rmb3.5 billion in RQFII quota.
