A spokesperson for HSBC declined to comment to our sister publication Fund Selector Asia.

The UK bank currently owns a 49% stake in HSBC Jintrust Fund Management and has signed an agreement with Shanxi Trust to acquire the remaining 51% holding, the reports say.

The financial terms of the acquisition were not disclosed.

Headquartered in Shanghai, HSBC Jintrust Fund Management was set up in 2005 and has assets under management of $7.73bn (£6.12bn, €7.04bn)

The firm has 180 staff, including 55 people in the investment team.

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The fund is a part of the Capital Group American Balanced strategy, which was initially incepted in 1975 with assets under management of around $196.3bn (£156bn, €177bn) as of end March.

It aims to take a balanced approach to both growth and income and currently invests between 50% and 75% in equities. The remaining fixed income portion generally invests in investment grade bonds, according to the fund factsheet.

The fund is managed by 12 fund managers, with an average investment experience of 28 years and 22 years with the asset manager. As of end of March, the fund now holds 53.5% in US equities, 29.0% in US bonds, 7.6% in non-US equities, 6.5% in cash and equivalents and 3.4% in non-US bonds.

“Managed by an experienced investment team, this fund strives to deliver a balance of growth, income and capital conservation, helping clients navigate various market changes and achieve long-term investment returns,” said Joyce Leung, assistant general manager for personal digital banking product department at BOCHK.

Toby Chan, head of client group Hong Kong and Greater China at Capital Group, added: “We are delighted to team up with BOCHK to bring one of the largest and most established US multi-asset strategies to investors in Hong Kong. BOCHK has the largest branch network, diversified service channels and extensive experience in supporting clients in their wealth management and investment journeys.”

Capital Group has $464.5bn in asset under management in multi-asset funds and manages three of the four largest multi-asset funds in the world. It has had a presence in Asia for the last 40 years and has offices in Sydney, Tokyo, Hong Kong, Singapore, Shanghai and Mumbai.

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The platform offers more than 140 funds across a range of asset classes, including equities, fixed income, multi-asset, commodities and cash and money market.

It selects products from around 30 global asset managers such as Amundi, BlackRock, Fidelity International, Goldman Sachs, Franklin Templeton, and Morgan Stanley.

The digital wealth offering also provides alternative strategies for individuals with portfolios of no less than HK$8m (£820,000, $1.02m, €920,000) such as hedge funds, private equity, private credit and private real estate.

Apart from investing in single funds, clients can also invest through multi-fund model portfolios.

Unlike most distributors that receive a trailer fee from asset managers, the wealth manager said it has adopted an alternative business model in which it collects a fee from clients on an asset basis and returns the sales distribution commission to its customers on a weighted average basis.

“The industry practice of paying trailer fees to distributors, like banks and brokers, goes against the ethos of offering products based on the needs of clients and improving long-term returns for investors,” said Samuel Rhee, co-founder, chairman and chief investment officer at Endowus. “By removing these often hidden commissions, we effectively remove any possible conflict of interest and place our focus solely on serving our clients’ wealth needs.”

The Endowus Investment Office first screens the fund for performance, cost and investment process and then selects the clean share class with no loaded fee on top.

“The umbrella fund is what is authorised for sale in the Hong Kong market, while distributors choose which share class they ultimately list on their shelf. It is no surprise that distributors choose those with the highest fee share class so they can earn the highest commission,” said Gregory Van, co-founder and chief executive at Endowus.

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The new company aims to offer global ultra-high net worth (UHNW) families a holistic wealth management experience, including goal-based investing, risk management, credit solutions, cross-border structuring, next generation planning and philanthropic stewardship.

Hemant Tucker, co-founder and chief executive of Farro Capital, said: “The industry is seeing challenges in securing top talent, ensuring high standards of trust and governance and creating one-stop infrastructure to serve the complex needs of sophisticated clients.

“Combining our expertise from different vantage points, we believe that Farro Capital will be able to provide our clients with trusted and holistic advisory services addressing the needs of these clients.”
Tucker also noted that there is increasing wealth and demand for professional and institutionalised wealth management services in Singapore.

Since its soft launch at the end of 2022, Farro Capital serves clients across more than 12 markets, including billionaires, sophisticated family offices and unicorn founders.

Shortly after its establishment late last year, the family office has appointed Sarada Yechuri as executive director in Singapore, and Jocelyn Gian and Desiyanny Setiawan as directors.

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The three funds are the Wellington Next Generation Education Fund, the Wellington US Brand Power Fund and the Wellington Sustainable Outcome Fund.

“We are looking forward to expanding our offering of actively-managed funds as core portfolio holdings to meet growing investor demand,” said Scott Geary, Wellington vice chair and head of client group for Asia Pacific. “Our local wealth channel partners, across banking, insurance and asset management rely on us for investment excellence and competitive offerings – compelling us to extend our institutional investment offerings to their clients.”

Details

Managed by Simon Henry, the Next Generation Fund mainly invests in companies that provide education services that are taking on the structural changes that will take place across global markets. It is an actively-managed fund and is benchmarked against the MSCI All Country World Index.

The Wellington US Brand Power Fund is managed by Douglas McLane and aims to identify high quality companies that display long-term growth potential and attractive fundamentals. The fund is actively managed and its investment approach is based on the view that the power of a company’s brand is a key determinant of long-term value.

Lastly, the Wellington Sustainable Outcomes Fund primarily invests in companies that are driving measurable change that results in positive social and environmental outcomes. Managed by Tara Stilwell, the fund’s proprietary thematic framework consists of 11 themes under three sustainability categories, which are life essentials, human empowerment and the environment.

The fund is classified as an Article 9 fund under the EU’s Sustainable Finance Disclosure Regulations and is recognised by the Monetary Authority of Singapore as an ESG fund for retail investors. It invests in companies that drive changes in the ecosystem through their business operations.

This includes their supply chains, customers and peers who, through these companies, are being influenced to also achieve measurable social and environmental outcomes.

For more insight on asset and wealth management in Asia, please click on www.fundselectorasia.com