China

Central Huijin Investment Ltd bought shares in four major Chinese State-owned banks on the secondary market on Monday, the company told Xinhua News.

Bank of China Prestigious Wealth Management - Chuang Fu RMB wealth management product phase 2011068 of Bank of China Limited was established with total funds raised of RMB 80 million. Bank of China Prestigious Wealth Management - Chuang Fu RMB wealth management product phase 2011068 is non-principal guaranteed with a variable yield and the minimum subscription amount of RMB 1 million. It is a trust wealth management product that can, through private banking, satisfy the demand of those customers with relevant investment experience, high risk tolerance and high net asset value.

ICBC offers the first "Banking@Home" Electronic Banking wealth management product for users of Personal Internet Banking and Mobile Banking, the Bank said in an announcement.

ICBC will launch the first Pu'er Tea wealth management product exclusively for private banking customers.

 In the first half of this year, ICBC has secured more than 23,500 investment banking customers and a business revenue of RMB 13.16 billion, up 51.8% from the year-ago where the revenue from domestic investment banking business surged 48.9% year-on-year to RMB 12.38 billion.

China's mutual funds made a combined loss of 125.4 billion yuan or US$19.65bi) in the first half of 2011.

The China Investment Corporation,  made a return of 11.7 percent on its global investment portfolio in 2010.

Temasek Holdings said its partial sale of stakes in China's state-owned banking giants Bank of China and China Construction Bank is part of its routine portfolio adjustment.

Bank of China launched the first batch of wealth management products exclusively available via online banking.

ICBC added a new member to the ICBC "Link Express" product family - "Link Express" ultra-short 7-day RMB profit increase. Customers are free to redeem anytime as long as the product is held longer than 7 days.

Commerzbank's investment banking business in China will focus on advising and financing Chinese companies' accelerating merger-and-acquisition activities in Germany.

The China Banking Regulatory Commission is soliciting opinions on wealth investment management, with clauses aiming to protect investors' interests.

China has revised rules to allow foreign commercial banks to distribute mutual funds in the country.

Doran Capital Partners and Eurasia Capital are courting Korean institutional investors for a private equity fund focused on Mongolia. Doran will serve as the Seoul office of Eurasia Capital that will launch the $100 million fund Korea Mongolia Resources Fund. The company will also manage the fund in partnership with Silk Road Management, a firm based in the Mongolian capital of Ulaanbaatar. Eurasia Capital is to act as placement agent for the fund. Mongolia’s economy is forecast to expand by eight per cent this year, according to the IMF, and has strong untapped mining reserves, which may be of interest to Korean investors and resource companies. “Mongolia represents a unique investment opportunity for South Korean investors due to strong political support, favourable economic environment and attractive investment projects,” said Eurasia Capital chairman and Silk Road managing partner Alisha Ali. Silk Road Management recently closed the first ever Mongolia-focused private equity and venture capital fund on $30m, exceeding its $25m target. The bulk of commitments came from family offices and high net work individuals in Asia, the Middle East, Kazakhstan and Russia.  

ABC and the BMO Financial Group launched its cross-border financial services of private banking.

HSBC Alternative Investments expanded flagship HSBC GH Fund of Hedge Funds to clients holding renminbi deposits.