Europe’s Ucits fund structure is gaining popularity in Asia despite the development of regional product passporting schemes, says Standard Chartered’s head of securities services.
The asset manager is readying its first pan-Asia Ucits fund and considering adding other products to its hedge fund platform, including mainland, macro and multi-strategy offerings.
With the UK planning a hard separation from the European Union in 2019, Asian service providers in London need to start making plans.
Industry participants are questioning the motivation behind and benefits of Hong Kong's new agreement with Switzerland on mutual recognition of funds.
The ambitions of Asian countries to build local fund capabilities is competing with Ucits, the traditional cross-border fund vehicle. Industry experts discuss the ramifications in a webinar.
It would make little sense for China to accept Ucits funds or to merge with other Asian passport schemes, says Sean Tuffy, head of regulatory intelligence at custody bank BBH.
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.
The Chinese firm's Hong Kong unit is seeking to have an RMB bond fund approved by Christmas as the first of several Ucits funds. It plans to open an office most likely in London.
The US firm’s new Asia head of hedge fund services targets expansion in Hong Kong and Singapore, citing increased demand from Chinese clients and growth of alternative Ucits products.
The asset manager is considering launching Ucits liquid alternatives products and looking to tap what it sees as growing institutional demand for alternative beta.
The South Korean and Japanese asset managers are looking to compete in a very crowded space with the first co-managed product they have launched outside their home markets.
The Chinese asset manager will set up a range of Luxembourg Sicav funds by the end of the year in a move to target European investors.