China 

China points finger at US trade war after US$940 billion sovereign wealth fund suffers negative growth in 2018

China’s US$940 billion sovereign wealth fund posted a loss last year, with officials pointing to the escalation of trade war with the United States, frequent geopolitical disputes and the slowdown of major economies as the culprits for the weak performance.Rapid changes in financial markets and the regulatory environment last year tested big institutional investors, including the China Investment Corporation (CIC), with the 2.35 per cent negative return on its overseas investment portfolio in… Source link

Read More
Vietnam 

Vietnam Opportunity Fund completely exits Vietjet – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A Vietjet airplane. The aviation firm shares have dropped 24.5 per cent to end Thursday at VND139,500 per share from its peak of VND184,840 per share in early April 2018. — Photo vietnamnet.vn HÀ NỘI — VinaCapital’s Vietnam Opportunity Fund (VOF) has sold its entire holding in Vietjet Aviation JSC (HoSE: VJC). VOF said in its August report that it sees the risk and reward to be balanced given the company’s (Vietjet) valuation and growth prospects. Vietjet made its IPO in December 2016 by selling 44.8 million shares to…

Read More
Home 

How did this new China fund manager make a whopping 54 per cent in profits in one year for investors?

Xu Xiaoyong has returned 54 per cent for investors during his fund’s first year by hunting for stocks that can thrive despite the challenges facing China’s economy.That means buying liquor firms supported by resilient consumers or betting that domestic tech suppliers will see more demand from larger companies as a result of the trade war, encouraging innovation, said Xu, investment director of Changan Fund Management.Here’s why big investing firms are steering clear of China’s expensive,… Source link

Read More
Home 

Budweiser to raise US$4.8 billion in Hong Kong IPO, adds Singapore sovereign wealth fund GIC as investor

Budweiser Brewing Company APAC said on Tuesday that it plans to raise up to US$4.8 billion and add Singapore sovereign wealth fund GIC Private Limited as a cornerstone investor as it revives its slimmed-down initial public offering in Hong Kong, weeks after shelving its listing in the midst of protests that have threatened the city’s reputation as an international financial centre.The listing of the Asia-Pacific arm of Anheuser-Busch InBev, the world’s largest brewer, will be the largest… Source link

Read More
China 

China expected to allow green bonds to fund clean coal projects in potential blow to climate change fight

China’s central bank is expected to take the controversial decision to include clean coal projects in the official catalogue of items that are allowed to be financed by green bonds, a technical but significant move that could put its environmental financing standards at odds with the European Union and even affect global efforts in fighting climate change.The People’s Bank of China (PBOC), which oversees green bond issuance on the interbank market in China, is expected to officially allow coal… Source link

Read More
Singapore 

Team Singapore launches crowdfunding page to fund travel to Overwatch World Cup, Digital, Singapore News

Team Singapore has launched a crowdfunding page on GoGetFunding to finance their travel to the Overwatch World Cup later this year. The team is looking to raise a total of S$30,000 to fund their 8-day stay in Anaheim, Los Angeles in the run-up to BlizzCon 2019, which takes place on 1 and 2 November. The money raised will cover things like flight tickets, accommodation, transport, and food for Team Singapore, which comprises a total of 10 members. As per Blizzard’s guidelines, this includes six players, one substitute, and three committee…

Read More
Vietnam 

Apartment buildings to have co-holders of maintenance fund – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Apartment blocks need to have between three and five co-holders of the apartment maintenance fund. Photo toquoc.vn HÀ NỘI – The Ministry of Construction’s latest draft regulations on apartment building management and use stipulates that there should be three to five co-holders of the apartment maintenance fund. They include one representative for the apartment owners, one representative for the investor and other members of the apartment management board up for a vote at an annual conference. Nguyễn Mạnh Khởi, Deputy Director of the Ministry of Construction’s Housing Management and Real Estate…

Read More
Home 

Boris Johnson’s brother in Hong Kong backs his Brexit strategy as he plans UK hotel fund targeting Asian investors

Boris Johnson’s “do-or-die” strategy to take Britain out of the European Union could work, said his youngest half-brother Max, who plans to launch a £1 billion (US$1.2 billion) real estate fund targeting Asian investors.“I am confident that the prime minister can get [it] done, because he has true determination and conviction to deliver Brexit on or before October 31,” the Hong Kong-based banker-turned-entrepreneur said in an interview. “If he can’t do it, I don’t know who can.”“I would expect… Source link

Read More
Home 

Unit of China’s sovereign wealth fund takes over Xiao Jianhua-linked Heng Feng Bank in third case of nationalisation since May

China’s sovereign wealth fund has taken over Heng Feng Bank, a troubled lender linked to fugitive financier Xiao Jianhua, in the third case in as many months of the state exerting its grip over wayward financial institutions.Central Huijin Investment, a subsidiary of the China Investment Corporation that acts as the Chinese government’s shareholder in the country’s four biggest banks, has emerged as a strategic investor in Heng Feng, according to a brief report overnight by Shanghai Securities… Source link

Read More