BNY Mellon Asset Servicing has been selected as Overseas Custodian for China International Fund Management Co.’s (CIFM) Asia Pacific Advantage Fund. CIFM is the fourth fund management company to receive a QDII (Qualified Domestic Institutional Investor) licence, enabling domestic Chinese investors to invest in international markets. Marketed as the CIFM Asia Pacific Advantage Fund, the fund will invest in markets including Hong Kong, Singapore, South Korea, Australia and India. The initial success of China’s fund management company (FMC) QDII scheme has resulted in record subscriptions, and the CIFM Asia Pacific Advantage Fund raised a record RMB116bn (US$ 5.4bn) during the initial subscription period, well in excess of its US$4bn quota.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.