Global managers are outsourcing FX risk from their growing Asian investments, leading RBC Dexia to set up a dealing desk in Hong Kong.
Asset-servicing firm RBC Dexia says RBC's acquisition of the remaining half of the business will hasten regional expansion and lead to greater cross-selling opportunities.
The firm transfers Diana Senanayake from Luxembourg to Singapore to drive business growth. It is now focusing on a market entry strategy for China, Taiwan and Korea.
Custodians and fund-admin providers are ready to tap potential opportunities in the renminbi funds market, but worry that RMB bonds are thin on the ground.
Mike Coleman of the Alternative Investment Management Association says a growing number of credit and macro hedge funds are setting up in Asia.
Ucits fund structures are now the preferred option for Asia-Pacific investors, says RBC Dexia.