The fund house is the first foreign firm to win approval to manufacture private funds for onshore institutional and high-net-worth clients. And further licences are in the pipeline.
Sandra Lu, partner of law firm Llinks, expects the first batch of wholly foreign-owned entities to register for private fund businesses in the next month or two.
Offshore asset managers’ wholly foreign-owned entities in China can now register to operate as onshore private fund firms, with Aberdeen, Bridgewater and Fidelity set to be first in line.
Julia Leung of Hong Kong's securities regulator hopes funds will be approved under the mutual recognition scheme this year, as asset managers and distributors work on their plans.
With Chinese regulators making stabilisation of the A-share market their top priority, market players say approval of funds under mutual recognition could be delayed, along with the launch of Shenzhen Connect.
Regulator sets out beneficial ownership situation for Stock Connect's foreign investors, months after the trading link went live. The move could pave the way for the launch of Shenzhen Connect.
CPPIB, Omers and OTPP are busy hiring in the region for investment talent in credit, real assets and particularly equities. Omers is also planning to add office space in Singapore.
China Pacific Insurance appoints new chairwoman, COO; AMP's CEO to leave by third quarter; Robeco announces duo in senior China roles; Axa IM hires head of institutional sales for Asia; GLP names co-president for logistics; BlackRock sells onshore Korea distribution business; Income Partners poaches head of distribution from Vanguard; and more.
Swiss Re hires head of China asset management business; BlackRock deregisters its China WFOE; DWS names head of Apac insurance coverage; Amundi appoints first Asia sustainability officer; Manulife IM appoints senior portfolio manager for asset allocation; Morgan Stanley IM hires portfolio manager for A-shares; and more.
Although sustainable funds have seen increasing inflows amid growing environmental awareness and the spotlight on social issues due to Covid-19, the industry still lacks a standard definition of sustainable investing. Nicholette MacDonald-Brown, head of European blend equities at Schroders, explains the firm’s three-pronged approach of people, process and purpose.
The Singapore state fund recently bought into impact investing specialist LeapFrog, and is eyeing more investments that combine strong financial returns with a positive social effect.
Special purpose acquisition companies (Spacs) have gained ground as financing vehicles for companies looking to go public. But Asian family offices have yet to make many investments.
The Canadian and Korean asset management operations of two life insurers have agreed to jointly take advantage of rising institutional investor demand for Asian alternative assets.