Apec ministers from Singapore, South Korea, Australia and New Zealand agree to develop a framework to facilitate regional cross-border fund sales in a move that could reshape the industry.
Leigh Powell
The proposed scheme will fail to live up to the hype initially because the size of the opportunity needs to be put into perspective, says Shiv Taneja of Cerulli.
AsianInvestor speaks to fund industry executives in Southeast Asia to get a feel for how their industry has evolved since the collapse of Lehman Brothers in 2008.
Fund managers both praise and begrudge broad-brush regulation sparked by the collapse of Lehman Brothers five years ago this weekend. In Hong Kong, there is one point of universal agreement.
The firm is repositioning its alts offering in response to demand. Global head of investment funds, Rene Buehlmann, says asset managers can do better in talking up globally diversified product.
The firm has lost four in Singapore including its CIO and two PMs. But it has signed an MoU to acquire an Asian equities boutique with seven investments staff based in the Lion City.
The $1.2 trillion state pension fund hires eight firms to manage overseas stocks, and is finalising domestic equity mandates. It comes after record losses in domestic bonds.
The withdrawal of investment banks as market-makers could cause problems if bond investors rush for the exits amid QE tapering, but BlueBay sees continued flows.
Recognising a gap in its product suite, the firm is building a packaged solutions business combining internal expertise, most likely centralised in London.
Benjamin Pedley rejoins HSBC Private Bank as head of its discretionary investment strategy team for Asia. He is leading a buildout, with further hires imminent.
The US firm has hired Eugene Bang from Deutsche Bank in Seoul to replace Yoohee Won, who is set to join PineBridge Investments in Hong Kong on the business development side.
Hong Kong financial advisers are more concerned about the potential impact of changing rules than their peers in Singapore, pointing to a communication breakdown, finds a Skandia survey.
