Middle East | 3 Sep 13
hsbc cuts more middle east operations
HSBC, one of the Gulf's largest international banks, is to stop offering wealth management products in Bahrain, Jordan and Lebanon, as it continues to shed its less profitable operations globally, following a strategic review.
United Kingdom | 3 Sep 13
aberdeen fined 7m for client breaches
Aberdeen Asset Management has been stung by a £7.2m fine from the UK's Financial Conduct Authority due to breaches of client money rules.
long term funds and high yield bonds bounce back
Investors in Europe are flocking back to long-term funds while high yield bond funds are also picking up again, after suffering huge redemptions in June, according to investment researcher Morningstar’s latest European asset flow data.
Middle East | 2 Sep 13
ESCA fees could damage UAE asset management
The planned introduction of a fee regime for fund distributors in the UAE has been met with quiet dissent by some in the asset management industry.
prestige and methexis launch sme lending fund
Prestige and Methexis have launched a new, non-market based fund that focuses on secured lending to private businesses based in the UK.