Brokers, custodians and fund managers say a lack of industry-wide incentives is slowing the march towards automation.
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The mutual fund industry could benefit from a streamlined Central Provident Fund system.
The darlings of Asia''s hedge fund market, Scobie Ward and Peter Ferry, have closed their $200 million fund allowing only existing investors to up their stakes.
Bank of America will shut its Asian investment banking operation in the next 60 days.