News

Aminvestment Bank Group plans to launch five offshore funds in emerging equity markets this year, including one in Australia.

Mizuho Financial Group  will buy the hedge fund research firm Eurekahedge for about $25 million. This is the latest move by the bank to bolster its asset management business.

Great Eastern Takaful Sdn Bhd aims to capturing about 20 percent of the market share by year end.

Mizuho Financial Group is planning to buy out its brokerage and trust bank units in a deal that could be worth around $4 billion.

ASM Investment Services Bhd will be launching two new investment funds in the second half of this year.

China Bank launched its latest peso-denominated Unit Investment Trust Fund offering.

The old Bank of Singapore has been renamed Singapore Island Bank.

 

Manulife Financial aims to double its Asian wealth management business in five years driven by strong demand for fixed income and equity funds.

Aviva Investors appointed Kevin Talbot and Manish Singhai as chief investment officers for fixed income and equities, respectively, for Asia.

The CIMB-Principal's Strategic Income Bond Fund will allow investors to capitalise on improving credit conditions in certain regions. These include Asia, Australia, New Zealand and the Middle East. The CIMB recently launched the fund to capitalise on the high potential of more rating upgrades.

US fund manager Janus named Augustus Cheh as president of non-U.S. business arm Janus Capital International. It also stated that it will base a fund manager in Singapore as part of a plan to grow its global operations. Cheh, formerly CEO of AllianceBernstein Hong Kong, will take up his new position at Janus effective March 29. He will be based in Hong Kong. Janus, which manages $161 billion globally, also announced plans to grow its Singapore operations by hiring Hiroshi Yoh as portfolio manager of Asian equity strategies and Singapore CEO. "Yoh will help to build up an on-the-ground investment team�based in�Singapore," a Janus spokesman in Hong Kong said. "This will enhance our existing research capabilities and allow us to increase stock coverage in this very important region." Yoh, previously Tokio Marine Asset Management's Singapore CEO and chief investment officer for Asia excluding Japan, will start on April 1.  

Aviva Investors has received a licence to provide fund management services to retail and institutional investors in Singapore.

 

ICBC's balance of assets under management reached RMB 609.4 billion at the end of November 2010. Thus ICBC tops the domestic league table and remains as the largest asset management bank in the country. The robust growth of the asset management business not only boosts the Bank's intermediary business earnings, but also brings good return to the customers. Just in 2010, ICBC paid RMB 11.8 billion in investment return to customers.

Public Mutual Berhad maintained its market leadership position in the private unit trust industry with an overall market share of 43 per cent.