Asia
Investment scams costing Aussies A$4.3m per month
Australians have lost A$26m (€16.4m, £14.6m, $19.2m) to investment scams in the first half of 2018, which equates to A$4.3m every month, according to the Australian Competition and Consumer Commission’s (ACCC) Scamwatch website.
Vanguard to shut Singapore office
Investment company Vanguard has decided to consolidate its Singapore operational and client activities in Hong Kong.
Australian financial advisers face ‘provisional’ year
New financial advisers in Australia could soon be known as “provisional financial advisers” and be required to undergo 12 months of practical, on-the-job training.
BMO, Jupiter and Schroders rolling out Hong Kong funds
BMO Global is launching an actively-managed fund in Hong Kong that invests in passive products, while Jupiter and Schroders have received regulatory approval to launch their own offerings.
Hong Kong wealth management assets hit $1trn
A more inclusive assessment of Hong Kong’s financial services sector helped push total assets under management at private banking and private wealth management firms to $1trn (£767,730, €859,910) in 2017.