-- Morgan Stanley hired former Credit Suisse banker Min Huang to lead its China investment management division as the US firm recalibrates its mutual fund business and expands its product offerings in the world’s second-biggest economy.Huang, most recently China head of client coverage for UBS Asset Management, will focus on attracting funds from high net worth and institutional investors, according to an internal memo last week that was confirmed by a Hong Kong-based spokeswoman.
Global companies are making headway in China’s 27 trillion yuan mutual fund market after regulators quickened approvals, increasing the number of wholly foreign-owned operators. JPMorgan Chase & Co. got regulatory approval for full control of its joint venture in January last year, two months after Manulife Financial Corp. became the first foreign firm to win 100% ownership through an acquisition. Other companies that have similar operations include Fidelity International Ltd.
The energy sector is ripe for fresh gains due to attractive valuations, investor positioning, and structural tailwinds, David Rosenberg said.Buying Nvidia in 2024? Wall Street Legend Issues Urgent...Iran launched explosive drones and missiles at Israel in retaliation for a suspected Israeli attack on its consulate in Syria on April 1, a first direct attack on Israeli territory that has stoked fears of a wider regional conflict.
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