Chairman Wang Dongming entered exclusive talks with Credit Agricole in March over the French bank’s remaining CLSA stake to add overseas research, brokerage and investment banking to Citic Securities’s operations.
The survey of fund management business covered the overall value of assets reported in the sub-sectors of asset management, fund advisory and private banking, as well as SFC-authorized real estate investment trusts (REITs).
Singapore Exchange (SGX) announced Thursday its higher mainboard admission standards, aiming at ensuring its position as a competitive and relevant global exchange and attracting larger companies seeking to list here.
New Asian hedge funds collected US$4.43bil in 2011, powered by major launches such as ex-Goldman Sachs Group Inc trader Morgan Sze's Azentus and former Asia head of Highbridge Capital Carl Huttenlocher's Myriad.
Huarong is the second of the four asset management funds to be restructured after changes to Cinda Asset Management Co in 2010, allowing it expand to other businesses including brokerage and securities services.
The stake has a market value of $250 million, but HSBC is expecting a hefty premium due to Baoviet's market position and the potential to raise the ownership level at a later stage, one of the sources added.
The Securities and Futures Commission’s annual Fund Management Activities Survey, 2011, found the combined fund management business of Hong Kong recorded a year-on-year decline of 10.4%, bringing the total AUM down from HK$10trn (£810bn, US$1.
The Hong Kong-based team includes four sector specialists and will manage a fundamental long/short equity portfolio, GLG said in a statement on Monday, taking a bet on the biggest but shrinking hedge fund category in the region.
CCP, a subsidiary of private equity manager Crescent Capital Partners Management, made the 50-cents-a-share offer last week.
In an emailed statement, Clark Song, Mananging Director at SHFA said that the Shanghai hedge fund network would be transformed into an education and communications organization to enable hedge fund firms in the city to participate in public policy discour
Japan's Dai-ichi Life Insurance Co Ltd and Korea Life were first out of the blocks to submit second-round bids on Monday for ING's insurance operations in Southeast Asia, as the Dutch insurer moves to divest it Asian operations.