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NEW UPDATES Asean Affairs  3 November 2014  

Malaysia-HK tie-up offers Islamic funds to Chinese investors

A TIE-UP between Malaysian and Hong Kong asset managers aims to market Islamic funds in mainland China, helping expand syariah-compliant investment products outside the industry’s core centres in southeast Asia and the Middle East.

The asset management arm of Malayan Banking Bhd and Hong Kong-based Bosera International will jointly develop Islamic investment products, Nor’ Azamin Salleh, chief executive of Maybank Asset Management Group Bhd, told Reuters.

The first fund under the agreement will invest in Chinese and Asian stocks; it will be a Malaysia-domiciled fund registered in Hong Kong via a mutual recognition agreement already in place between the two countries, Salleh said.

“We are doing the necessary for the fund to be launched and announced in the first quarter of 2015.”

Bosera is a wholly owned subsidiary of Shenzhen-based Bosera Asset Management, one of the country’s largest asset managers, which says it has over US$30 billion of assets under management. Bosera will promote the fund to retail clients, including an estimated 23 million Muslims in China.

“We are catering our funds to meet international appeal in the region through our presence, thus we are open to cross-listing of funds which we think are suitable,” said Salleh.

Until recently there has been little Islamic finance activity in China, although this is changing after Hong Kong’s issue of a US$1 billion debut Islamic bond in September.

Regulators from Hong Kong and Malaysia held a joint seminar on Islamic investment funds in June. That month, RHB Asset Management, the investment arm of Malaysia’s RHB Capital, launched its first Islamic fund in Hong Kong.

Maybank Asset Management has also launched its first US dollar-denominated Islamic fund, aiming to distribute the fund overseas.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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