Retirement | 26 May 15
DeVere boss further reduces stake in QROPS specialist STM
DeVere’s chief executive has continued the sale of his shares in QROPS provider STM, reducing his stake to just 6.7% from the 24% he purchased in 2012.
China and Hong Kong open the door to cross-border fund sales
Hong Kong and China are to allow cross-border trading of mutual funds from 1 July, increasing the range of fund products available to retail investors in both markets and giving asset managers around the world access to the huge Chinese domestic market.
Industry welcomes ‘crucial’ European Capital Markets Union
European financial trade bodies have unanimously welcomed in the European Commission’s green paper on creating a Capital Markets Union, describing it as an opportunity to support the industry’s “sustainable economic growth and long-term financing”.
RSA completes sale of China insurer Sun Alliance
London headquartered-RSA Insurance Group has completed the sale of its China-based business, Sun Alliance Insurance, as it continues to focus on its core markets and “clean up its past weaknesses”.
Cogress to target IFAs with new collective property offering
Private equity house Cogress UK has said it plans to release a regulated offering which will allows UK IFAs to invest client money into its collective property investment model.