News

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.  

South Korea is moving to quicken a regulatory revision in a bid to launch the first local hedge fund within this year.

SunGard has launched its WealthStation wealth management platform in Asia-Pacific to provide the region’s growing financial advisor industry with tools to help them acquire, retain and service clients.

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

Threadneedle has appointed three senior Sales Directors to cover Wholesale markets in Asia. Gerard Clancy, Richmond Herrera and Kent Ng all join Threadneedle this month, reporting to Michael Langlois, Head of Wholesale Distribution in Asia Pacific.

DBS Bank unveiled its new regional DBS Treasures Private Client platform. It is specially designed to cater to the fast-growing segment of new wealth creators in Asia.

In another development, Nazir said the CIMB Group is looking for opportunities to enter Laos and the Philippines, going forward.

The Malaysian government is studying an easy loan scheme to enable the lower income group to invest in the Amanah unit trust funds, Prime Minister Datuk Seri Najib Tun Razak said.

ASM Investment Services Bhd aims to attract one million investors through salary deductions this year with its "Thrift Savings Plan". ASM Investment presently has 100,000 investors with a total investment of about 800 million units.

Woori Finance Holdings Co. seeks to acquire or merge with non-banking financial companies to diversify its bank-focused business.

Maybank Islamic has issued its maiden Tier 2 Capital Islamic Subordinated Sukuk of RM1.0 billion.

Moody's assigned (P)Aa3/(P)A1 ratings to the JPY500 billion domestic shelf registration programme of The Sumitomo Trust and Banking Co., Ltd. The rating outlook is stable.

Barclays Wealth made 12 director-level senior appointments for the private banking business in Singapore and Hong Kong.

Companies such as Goldman Sachs, BNP Paribas, Canara Robeco, Aditya Birla Financial Services, and Helix Investment Advisors are expanding their bases and presence in India.

JPMorgan's corporate bank will increase its investments and bankers in Southeast Asia.

HSBC Amanah Securities Services, a global service for Islamic fund managers,has been launched by HSBC Securities Services and HSBC Amanah.