HONG KONG Feb 24 News and developments in Asian
funds industry in the last one week.
China plans to overhaul its securities regulator, merging
some departments and creating four units to fill existing gaps,
as it looks to reduce unnecessary red tape and create more
effective oversight of its fast-developing markets.
French insurance group AXA is looking for more
acquisitions in emerging markets, the company said after posting
a 14 percent rise in full-year net income and lifting its
dividend by 13 percent.
Caught in an emerging market storm, some resource-rich
states may keep more windfall income in liquid assets, ready to
aid their economies, rather than locked up in strategic
investment for future generations.
Outflows from emerging bond and equity funds eased slightly
in the past week to just under $3 billion, though equity
investors pulled out cash for a record 17th straight week, banks
said on Friday, citing data from EPFR Global.
China's central bank has clarified operational details for
conducting cross-border business in the yuan currency through
its pilot project in the Shanghai free trade zone, according to
a circular seen by Reuters on Friday.
A global sell-off in emerging economies is nearing bottom,
veteran emerging markets investor Mark Mobius said in Mexico on
Wednesday during a tour to take the pulse of Latin American
China's insurance regulator has released new rules raising
the share of assets that insurers can devote to equity
investments, providing a potential boost to the Chinese stock
Investors grew even more pessimistic about the developing
world in February, with a majority saying the biggest threat to
the stability of global financial markets was turmoil in
emerging markets, a survey showed on Tuesday.
Activist hedge fund investor Daniel Loeb's Third Point,
which called for major reforms at Sony Corp 6758.T after
acquiring a stake, is no longer listed among the electronics
maker's 10 biggest shareholders, a regulatory filing showed.
Japan's Securities and Exchange Surveillance Commission has
uncovered a stock manipulation scheme by traders from
Anguilla-based company Select Vantage Inc.
Halfway through Europe's company earnings season, investors
who made record bets in search of dividends have cause for
celebration, though they should prepare for disappointment from
some traditionally high-paying sectors.
Sharp withdrawals from equity, currency and commodity
tracking funds as emerging markets sold off in early 2014 looks
no more than a bump in the road for such vehicles as they expand
their share of assets under management.
(Compiled by Nishant Kumar; Editing by Supriya Kurane)