. Vanguard’s Australian presence extends from Brisbane across Melbourne and Perth to Sydney. We use cookies to give you the best experience. by Rupert Walker 27 August 2020 27 November 2020. The Vanguard spokeswoman said the departure from Hong Kong had “absolutely no connection” to the controversial National Security Law imposed on the territory by Beijing this summer. The company’s future focus in Asia will be mainland China, with its primary regional office in Shanghai, he said. Vanguard, the world's second-biggest asset manager after BlackRock, plans to close its Hong Kong office and exit its exchange-traded fund business … Vanguard plans to wind down its Hong Kong operations, which primarily serve institutional clients, over the next six to 24 months, according to Peter Zhang, a Vanguard spokesman in Shanghai. However, the Hong Kong stock market will remain a critical component for Vanguard’s global diversified funds, and the Stock Connect and Bond Connect channels will provide them access to the A-share and China bond markets, the firm said. Vanguard’s locations in Asia are Hong Kong, Tokyo, and Sydney. Vanguard Group Inc. said it plans to end its onshore presence in Hong Kong and Japan to focus on individual investors in faster-growing parts of Asia, resulting in an undisclosed number of … The ETF Connect, Wealth Management Connect and mutual recognition of funds (MRF) initiatives are “all positive developments, but these opportunities do not change the decision we have made”, she added. Vanguard, the world’s second-biggest asset manager after BlackRock, plans to close its Hong Kong office and exit its exchange-traded fund business in the city following an “extensive review” of its international operations.The Pennsylvania-based index provider notified holders of its six ETFs traded All investors accessing the website do so on their own initiative and are responsible for compliance with applicable local laws and regulations. Vanguard - Singapore: 1.352083 ... Posted. Hong Kong has been home to Vanguard’s main office in Asia after the index fund giant closed its Singapore operation in 2018. Scott Conking, head of Asia and a 36-year Vanguard veteran, will eventually relocate to Shanghai from Hong Kong. Vanguard Investments Hong Kong Limited (AYT820), a subsidiary of The Vanguard Group in the US, is licensed with the Securities and Futures Commission ("SFC"). The move follows a … By using this website you acknowledge that your access to the information on this website is governed by the laws of Hong Kong. ISSN 2397-284X. Although some of the 50 staff in the Hong Kong office will relocate to Shanghai, the majority will be made redundant. For more insight on asset and wealth management in Asia, please click on www.fundselectorasia.com, Tags: China | Hong Kong | Investments | Vanguard, Your email address will not be published. Menu. In a separate statement, a spokesman confirmed that Vanguard … “Our future aspirations in Asia are to serve Chinese individual investors in mainland China, so our Shanghai office will become our primary office in Asia,” a spokeswoman told our sister publication Fund Selector Asia. “Unfortunately, from a distribution business standpoint, the current industry dynamics in Hong Kong – and Japan – are better suited to institutional investors and do not support the scale needed for us to operate the economic engine behind our low-cost, individual investor-orientated model,” said the spokeswoman. As part of the closure, Vanguard intends to exit from its exchange-traded fund (ETF) operations in Hong Kong within the next 24 months, according to a filing to the Hong Kong Stock Exchange (HKSE). Most of them will be laid off “over a period of time”, company spokesperson says. 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