Japan’s asset management firms are under pressure from domestic policymakers and foreign investors to improve the sector’s gender diversity, as Tokyo attempts to reinvent itself as a hub for the global finance industry and stave off expectations of a shrinking labour population.
Known for its volatility, lack of transparency and still-evolving regulatory environment, China’s onshore equity market can be scary for even the most stoic institutional investor.
Legendary ‘Mr China’ investor explains why global asset managers will struggle to crack Chinese market
China is seen as the jewel in the asset manager’s crown. Since restrictions on foreign ownership were relaxed for the funds industry in April, global firms including BlackRock, Fidelity International and Vanguard have applied to set up wholly-owned mutual fund units in China, hoping to tap the country’s fast-growing USD2.6 trillion retail fund market.
By A Paris – This year will be forever remembered as the one which saw a global pandemic taking over the world, widespread travel restrictions and significant market volatility. But in Singapore, 2020 can be considered in a more favourable light. Despite the less than auspicious environment, the jurisdiction reaped success in launching a new fund structure, generating manager interest in an otherwise turbulent period.
By Mark Voumard, Gordian Capital – Readers will be familiar with onshore domiciles such as Dublin or Luxembourg. How does Singapore differ?
“The introduction of the Variable Capital Company (VCC) structure earlier this year has been the latest in a number of initiatives undertaken by the Singapore government to grow the city state’s fund management industry and achieve its ambition of being the gateway to asset management opportunities in Asia”, says Allard de Jong, Head of the Fund Administration, Corporate Trust and Custody team of the Portcullis Group.
The outlook for the penetration of the Variable Capital Company legislation as a fund structure is upbeat as it soldiers on against the unfortunate timing of its launch, amid a global pandemic. More importantly, in practice the legislation works well and the fund launches have been successful.
The ASEAN region has demonstrated itself as a major area for investment and potential growth. However, much of this growth is still on the horizon and yet to be materialised. For the prospects of the ASEAN region to reach their true potential, the current environment requires cost efficiency, scalability and talent. These are critical factors to creating a supportive ecosystem.
The Monetary Authority of Singapore (MAS) has been proactive and transparent with licensing requirements, compared to other jurisdictions. The Digital Acceleration Grant (DAG) programme incentivises firms to modernise operations, equipping smaller managers with the necessary technology and helping new funds get off the ground. This programme, coupled with geopolitical influences, contributes to Singapore accelerating as a safe-haven for money and financial institutions.
Hong Kong SFC issues 'approval-in-principle' for OSL virtual asset automated trading and brokerage licenses
Asian digital asset platform OSL, a member of BC Technology Group, has secured an approval-in-principle for its application to operate a virtual asset trading platform under a license for Type 1 (dealing in securities) and Type 7 (automated trading service (ATS)) regulated activities under the Securities and Futures Commission (SFC) virtual asset licensing framework in Hong Kong.