Sunday 24th July 2016
NEWS TICKER: JULY 22nd 2016: Apple Inc is planning to open its first Apple Store in Taiwan, a move that comes after the U.S. technology giant raised $1.38 billion in a bond offering last month on the island that is home to many companies in its supply chain -- Taiwan stocks fell in the Asian session today after hitting a more than one-year high in the previous session, tracking losses in overseas markets. The main TAIEX index was down 0.4% at 9,019.87, after closing 0.5% higher in the previous session. Taiwan's export orders from China, in data issued earlier this week, showed slippage in June, hurt by weaker demand for displays, though not by as much as expected. Even so, the Taiwan dollar softened TAD0.019 to TAD32.079 per US dollar - Phillip Capital Group, an Asian financial services provider with $30bn 3 in assets under custody and management, has appointed BNP Paribas Securities Services to service its Singapore-based funds. BNP Paribas Securities Services is a global custodian with USD 9 trillion in assets under custody. Phillip Capital Management (S) Pte Ltd (PCM) has migrated its largest SGD money market fund to BNP Securities Services Singapore. This will help the company enhance operational efficiency and fulfil its regulatory requirements. For example, the company will be able to manage, track and report on its funds in a consistent and timely fashion. The long-term benefits will enable a standardised and scalable approach to custody services being extended into other locations for PCM. Phillip Capital Management (HK) Ltd is also working with BNP Paribas Securities Services to launch a fund in Hong Kong -- Following the event strewn Republican Convention this week, next week it is the turn of the Democrats. The Democratic National Convention is set to take place in Philadelphia from July 25th to 28th. The event is scheduled to be held at the Wells Fargo Center -- China's CSI 300 index and the Shanghai Composite both slipped about 0.5% in the Asian session today, with losses of around 1% for the week. Japan's Nikkei 225 closed down 1.1%, dragged down by the yen's 1% rally on Thursday – a trend that has been apparent all year. The index is still up 0.8% in a week in which it touched an eight-week high thanks to an initially weaker yen and expectations of fiscal and monetary stimulus, though in an interview with BBC radio this week, the Bank of Japan said that it did not believe in ‘helicopter money’ and that its current strategy was adequate to lift the economy out of its funk. The central bank’s next policy decision is expected on July 29th

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AUM in Luxembourg at record high in April

Wednesday, 20 June 2012
AUM in Luxembourg at record high in April The Association of the Luxembourg Funds Industry (ALFI) today announced that the assets under management of Luxembourg-domiciled funds  reached a historic level at the end of April 2012, at €2,225bn under management. Luxembourg remains the largest European fund centre, followed by France and Germany. http://www.ftseglobalmarkets.com/

The Association of the Luxembourg Funds Industry (ALFI) today announced that the assets under management of Luxembourg-domiciled funds  reached a historic level at the end of April 2012, at €2,225bn under management. Luxembourg remains the largest European fund centre, followed by France and Germany.

“Following a year of political uncertainty which has led to turmoil in financial markets, we believe that this growth in assets under management in Luxembourg marks a return of confidence in investment funds. “ says Marc Saluzzi, Chairman of ALFI.

According to ALFI’s 2011 Annual Report, released today, 2011 was characterised by strong caution on the part of investors.  Despite net inflows of €5bn, Luxembourg funds finished the year €102bn down on the previous year, with €2,096bn under management.



However, 2011 was an "excellent year in terms of creation of new funds" says ALFI with 3845 funds domiciled in Luxembourg at the end of December 2011. "This growth confirms the extent to which specialised investment funds have become an essential part of the Luxembourg funds industry, accounting for 277 of the 459 new funds created under the Luxembourg domicile in 2011".

Commenting on the regulatory environment, Saluzzi says that “ALFI remains concerned by the regulatory pressure faced by the industry. The Financial Transaction Tax in particular could have a substantial negative impact on investors, and ALFI continues to work to ensure that policies are beneficial to the fund industry and its clients.”

 “It’s an interesting time in the fund management industry, and ALFI is particularly supportive of the growth of socially responsible investing, including the development of vehicles and benchmarks for so-called impact funds, microfinance funds and environmental funds. ALFI is also delighted at the opportunities the new European AIFM Directive offers to fund managers and institutional investors who are looking to develop alternative funds.,“ he

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