Interest in AXA’s unit has mainly come from some insurers, Chinese state-owned enterprises, private investment groups and property companies, the sources said.
The government’s response, based on its 2016 inquiry, is closer scrutiny on how retail interest rates are being set, Coleman said.
By comparison, therefore, wealth management is difficult, costly and time-consuming. Not many local banks yet have a clear affluent or HNW strategy.
If the transaction is completed, Hana Financial will hold a 100 percent stake in Hana UBS Asset Management and the entity will be renamed, Hana Financial said in a statement.
By achieving this slightly ahead of schedule, the firm has now started to see some positive business momentum, explains Gupta.
Investors in Asia, who tend to have a greater affinity for trading frequently than their wealthy counterparts elsewhere, continue to favor such products, which offer exposure to derivatives.