ING sells Thai asset management biz to UOB
For 10 million euro. This is the amount the ING Group will receive in selling its investment management business in Thailand to UOB Asset Management. The transaction, which is subject to regulatory...
View ArticleMalaysia's CIMB expects AUM to hit RM7-B next year
Munirah Khairuddin, acting CEO of CIMB Wealth Advisors, expects robust subscription of all its products. This will help push its asset under management to hit RM7 billion by the end of 2013. It is...
View ArticleSouth Korea's pension fund withdraws money from Goldman
It is seen as a retaliation for pulling out its asset management unit out of South Korea. This is about the National Pension Fund's withrawal of all funds entrusted to Goldman Sachs for management....
View ArticleFund manager warns against Philippine foreign ownership rules
Lazard Asset Management warned that foreign ownership ruling for PLDT may negatively impact the country. The firm, with almost $1 billion invested in the Philippine capital markets, told the...
View ArticleThailand's SCB adjusts to needs of its wealthier customers
Siam Commercial Bank changed its private banking strategy for clients who are getting richer. This is to cater to their risk appetite and investment objectives. People who are getting richer,...
View ArticleKasikorn expects AUM to hit Bt1-T
Kasikorn Asset Management forecasts assets under management (AUM) to touch Bt1 trillion this year. According to its newly appointed executive chairman, Chongrak Rattanapian, this is based on...
View ArticleWarning made against Chinese wealth management products
Ranking: No The frenzy of Chinese banks to snatch depositors have led to non-standard operations in wealth management. Some lenders have failed to disclose sufficient information on the products to...
View ArticleThai banks intensify competion to lure wealthy clients
Thai banks have launched strategies to retain wealthy customers and attract the newly rich. For Thai commercial banks, success in winning over these customers means success in expanding banking...
View ArticleAsset management firms in China post record profits
Four asset management companies in China saw total pre-provision operation profits of 37.6 billion yuan ($5.97 billion) in 2013. In 2012, China Cinda Asset Management Co Ltd achieved PPOP of 13.6...
View ArticleThailand's BAM aims for 10% revenue, profit growth
Bangkok Commercial Asset Management sees good profit in rehabilitating debts and selling NPAs. Its strategy is to choose non-performing assets for sale that match with the demand in the market....
View ArticleFinansa CEO advises bond investments as Thai policy rates fall
Finansa Asset Management CEO Teerapan Jittalan foresees a 50-basis point cut in the policy rate this year. This is a measure to slow down foreign capital inflows."As developed economies’ central banks...
View ArticleMainland China said to be opening door to hedge funds
Personnel changes at the CSRC in November prompted speculation that China will open up to investment vehicles. Some people familiar with the regulator say the China Securities Regulatory Commission is...
View ArticleJapan's Orix targets Dutch asset manager Robeco for $2.6-B
Orix Corp will buy Robeco from its owner Rabobank for about 2$2.6 billion. The deal will be the biggest acquisition ever by Japanese financial services firm Orix, whose businesses include leasing,...
View ArticleWestpac to fortify wealth management team
Wetpac will expand its wealth management division to serve a growing demand for financial advice. With more customers tipped to seek out expert financial opinion as the population ages, the bank aims...
View ArticleEx-fund head in Thailand faces criminal charges
A criminal complaint has been filed against Sopana Janeborvorn, a former mutual-fund manager. She used to represent Kasikorn Asset Management Co (K-Asset) and SCB Asset Management Co (SCBAM), as well...
View Article57% of global fund managers still positive on equities in 2Q
Ranking: No But some remain cautious amidst Eurozone debt crisis. According to a release, fifty seven per cent of global fund managers (vs 75% in 1Q13) covered in HSBC’s latest Fund Managers’ survey...
View ArticleEmerging market equities to beat bonds soon: HSBC
Ranking: No But growth may be on a slower pace.Based on its latest Investment Quarterly, HSBC Global Asset Management (HSBC) reveals that emerging markets including China, India and Indonesia will...
View ArticleNational Australia Bank unveils wealth brand in Asia
Ranking: No See what's in store for Asian investors.In a release, National Australia Bank (NAB) today announced that it will be bringing the best in wealth management standards in Australia to wealthy...
View ArticleGuess which ASEAN country is most exposed to capital flows reversal
Will Singapore be spared?According to Morgan Stanley Research Note of ASEAN Equity Strategy, there is a potential reversal of capital flows into emerging markets which could dramatically reduce EMs’...
View ArticleAsian economies warned of rising real rates
Which countries are highly exposed?According to Morgan Stanley, the exogenous rise in real rates will constitute a pro-cyclical monetary tightening for all the countries in the region. This will weigh...
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