FOCUS: Chinese Gold ETPs Generating Investor Interest But Won’t Change Downtrend
HuaAn Asset Management, the firm behind one of the two newly approved Chinese gold-backed exchange-traded products, expects to see strong investor demand for the yellow metal.
Over the weekend, it was reported that the firm anticipates raising between 2 billion and 3 billion yuan, or about $326 million to $489 million for its new gold fund. In an interview with Reuters, Richard Xu, the fund’s portfolio manager, said the firm has received positive responses from institutional investors.
Because of the strong demand for gold, especially in Asian, analysts expect that HuaAn Asset Management could easily achieve its goal; however, it might not have a major impact on global prices.
Posted by admin on June 18, 2013
For Taiwanese companies, mainland China has long been both boon and bane: Factories and other investments in the mainland are crucial to their success, yet their rights in legal disputes there have been somewhat hazy.
Beijing tried to ease Taiwanese businesses’ concerns last week by signing a new investor protection agreement with Taipei. It lays out avenues for resolving disputes between Taiwanese investors and mainland companies and government entities.
But as with many things in China, the value of this agreement for Taiwanese will depend more on Beijing’s implementation than the wording. The new dispute resolution mechanism also requires the Taiwanese and mainland companies to first agree on an arbitration method, which analysts say may diminishes its practical value.
Posted by stekunan on August 13, 2012
Investment Europe-Chiara Albanese said that between June and July, the index rose by 0.7 points, reaching 94.
“Confidence among both North American and European investors ticked downwards, while sentiment among Asian investors was slightly improved,” State Street said.
The North American ICI declined 0.6 points from June’s to settle at 93.1, while the European ICI fell 0.5 points from June, reaching 101.7. Meanwhile, the Asian ICI was up 0.8 points from June, reaching 91.
“The message being sent by institutional investors this month is one of cautionh. The pick-up in equity buying that we noted last month proved short-lived, and flows had turned negative by the end of our July sample,” said Harvard University professor Kenneth Froot, who developed the index with Paul O’Connell of State Street Associates.
O’Connell added: “Although there was a small uptick in Asian investor confidence this month, on a relative basis, the index for that region remains the most bearish, 9 points below the neutral level of 100.”
Posted by Innovator on July 31, 2012
On a sultry afternoon in May, Richard Friedman sits in the back of a 1990s Buick with faulty air conditioning, mired in traffic in downtown Yangon (formerly Rangoon). The rainy season in Myanmar—also known as Burma—has just begun, and the sky is a leaden gray; the temperature is pushing 95F. Friedman, one of the highest-profile American investors to be lured by the siren call of this newly opened Southeast Asian country, peers out at a sweep of colonial-era buildings, many of them derelict. We drive past the old British Customs House and the former Pegu Club, where Rudyard Kipling spent his only night in Burma, in 1889, while traveling from Calcutta to San Francisco. The stories he heard there inspired his poem “Mandalay.”
A short, vigorous 72-year-old who coached the Harvard ski team after graduating from Dartmouth in the early 1960s, Friedman made his name turning neglected but historic properties into top-flight hotels. In 2005 he redeveloped San Francisco’s 1907 Williams Building into a $180 million mixed-used project that includes the St. Regis Hotel, condominiums, and the Museum of the African Diaspora. Two years later he transformed the 19th century Charles Street Jail on Boston’s Beacon Hill into the four-star Liberty Hotel. Friedman is the president and chief operating officer of Carpenter & Co., a Cambridge (Mass.)-based real estate development and management company. He’s also a major Democratic fundraiser. During the 1990s, the Clintons used his beachfront home on Martha’s Vineyard as their summer White House half a dozen times.
Posted by Innovator on July 17, 2012