Asia
IFAs urged to ditch IoM life cos over commission disclosure
IFA firms should “wrest control” of their businesses from life companies based on the Isle of Man before the Conduct of Business Code comes into force, the director of Thames River International has argued. A move described by one industry source as “dodgy” and a “stain on the industry”.
Anbang chief faces life imprisonment
The chief executive of Chinese insurance giant Anbang is facing life behind bars after being put on trial for illegal fundraising, fraud and embezzlement by the country’s regulatory watchdog.
Reforms add shine to Indian equities
Government policies have boosted the appeal of Indian equities and the country’s interdependence from global trade risks makes it an attractive long-term bet, according to Blackrock.
PEOPLE MOVES: Marlborough, CISI, State Street
Marlborough hires a head of business development from Brooks Macdonald, the Chartered Institute for Securities & Investment appoints a board chairman, while a former Blackrock employee joins State Street to head ETF model portfolios.
‘Safe sectors’ no longer safe, warns Pictet AM
Investors should stay away from what they perceive as “safe sectors”, such as consumer staples and telecommunications, as they have accumulated more debt, according to Shaniel Ramjee, London-based senior investment manager for multi-asset at Pictet Asset Management.