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Global family offices grow assets under management to nearly US$6 trillion, report shows

The number of Asia-Pacific family offices rose 44 per cent during the last two years, according to Campden Research. A selection of supercars, traditional symbols of wealth, are displayed during Sino Group’s Gold Coast Motor Festival in Hong Kong on November 10, 2017. Photo: Nora Tam Source link

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Global bull run could continue for as long as two years, but may be ‘noisy’ for investors, Investec Asset Management says

The bull market and the longest economic expansion globally since the second world war will continue for as long as another 18-24 months, but it could be a “noisy” one for investors, according to Investec Asset Management.John Stopford, head of multi-asset income at Investec, said investors needed to be more defensive in their approach as the market cycle was quite “long in the tooth”, but there were opportunities to take on risk.“The context we are operating in is a very uncertain one, a very… Source link

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China 

US-China tech war could be decided by population management as superpowers battle for talent

The context behind recent fluctuations and squabbles between the United States and China is quite clear for us all to see – two powers vying for technological domination over the other in the great technology race of the 21st century. For the moment, it seems evident that China will continue to outpace and surpass the US in the next 10 to 20 years. In the long run, however, the determining factor in the outcome of this struggle, I believe, could be how these two superpowers manage issues of… Source link

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Hong Kong stock exchange operator launches inline warrants, first new structured product in 13 years as part of plan to be Asia’s asset management hub

The operator of Hong Kong’s tock exchange will introduce inline warrants trading on Thursday, marking the first roll-out of a new structured product in 13 years, part of its three-year plan to diversify into a leading Asian asset management centre.Fifty inline warrants will start trading on Thursday (July 18) on the stock exchange, issued by six banks, BNP Paribas, Haitong, HSBC, JPMorgan, Societe Generale and Vontobel.They are derivative products linked to the Hang Seng Index and the share… Source link

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Central China Securities shares plunge in Shanghai and Hong Kong as asset management products face default risks

Shares of Central China Securities tumbled in Shanghai and Hong Kong after the brokerage said two of its asset-management products worth 241.5 million yuan (US$35.1 million) may be about to default on payments to investors.The stock had slumped 8.5 per cent to 5.30 yuan by mid-afternoon Friday in Shanghai, putting it on track for its biggest decline since May 6. The shares lost 4 per cent to HK$1.70 in Hong Kong.The two asset-management products were backed by Minxing Pharmaceutical, a drug… Source link

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Global 

Investors are too pessimistic about the global economy, US-China trade war, says HSBC Global Asset Management

Investors are being too pessimistic about the global economy and the effects of the trade war between the United States and China, according to HSBC Global Asset Management.Bill Maldonado, the chief investment officer for Asia-Pacific, said that this year has been a much stronger one for markets than 2018, with strong returns in a “low inflation, low-interest-rate world”.“We should keep calm and carry on. It’s important not to get too distracted by the pessimism, on the trade dispute, on the… Source link

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AllianzGI launches Hong Kong hackathon; nine global start-ups will pitch their AI strategies to fund management executives

Allianz Global Investors, one of the largest asset managers in Europe, plans to partner with global start-ups in Hong Kong to expand use of artificial intelligence (AI) in its Asian operations to enhance fund returns, a move in line with government efforts to boost the city’s reputation as an innovation hub.AllianzGI’s three-day AI Hackathon, held from Tuesday to Thursday in partnership with Cyberport, will allow nine start-ups to pitch to fund management executives on AI solutions to enhance… Source link

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UBS wealth management unit thinks mainland equities could perform well in second half, beating out gold and real estate

Trade talks between Beijing and Washington have entered a new normal, characterised by a drawn out cycle of progress followed by renewed tensions, a relationship based on repetitive conflict that adds up to higher volatility for China and Hong Kong equities, according to UBS.But supportive policies from Beijing means there could be 10 per cent upside in Chinese equities, while Hong Kong’s market, which has no immediate stimulus, is likely to underperform, said Eva Lee, head of Hong Kong… Source link

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Vietnam 

VietFund Management divests from ACB – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A customer at an ACB branch in Hà Nội. — Photo ACB HÀ NỘI — The VietFund Management (VFM) will sell all its shares at the Asia Commercial Bank (ACB). The Hà Nội Stock Exchange announced that the VFM registered to sell 692,967 ACB shares, equal to 0.06 per cent of ACB’s charter capital. The shares will be traded via both put-through and order-matching methods from June 28 to July 26 this year. On the stock market, ACB shares are trading around VNĐ29,000 (US$1.25) apiece so that…

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Women in tech: How Esther Wong rose from IT support in America to senior management at China’s AI champion SenseTime

Beyond finding good deals, SenseTime wants to “empower the start-ups we invest in and help them with our technologies”, said Wong in an interview in Beijing. SenseTime is a major supplier of automatic facial recognition systems to railway stations and airports in China. Photo: Bloomberg She has led SenseTime’s investment in Chinese start-ups Ling Technology, which designs various AI consumer products, and Moviebook, which develops technologies for online video services. SUBSCRIBE TO SCMP TODAY: INTL EDITION Get updates direct to your inbox Thank you for your subscription. SenseTime was probably…

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