Asia
ETF Securities targets Australia following Hong Kong exit
UK-based ETF Securities has said it will focus on expanding its presence in Australia following the asset manager’s exit from Hong Kong earlier this year.
Former Westpac banker jailed for property Ponzi scam
A former Westpac banker in Australia has been sent to jail for three years for encouraging elderly and vulnerable customers to borrow over A$2.5m (£1.5m, $1.9m) to invest in a Tasmanian property development, which turned out to be a Ponzi scheme.
China’s asset management industry tops $7.5trn
Assets under management across mainland China rose by 36% to 51.8trn renmimbi ($7.53trn, £6.0trn) in 2016 according to data from the semi-official Asset Management Association of China (AMAC).
Japanese funds to watch based on their AUM
Seeking returns from some of Japan’s undervalued big companies, replicating indices, and using a benchmark-agnostic approach are some of the favoured strategies of Japanese funds with substantial assets under management.
China gives the green light to first online-only life insurer
Hetai Life Insurance has received approval from China’s insurance regulator to start operating as the country’s first-ever online life insurer.