After a strong showing in 2016, the gold price has been pegged back by dollar strength and a positive outlook for the US. Still, demand from China is growing, notably through ETFs.
More mainland funds have received the go-ahead for sale in Hong Kong under the mutual recognition scheme. They are tipped to provide stiff competition for RQFII products.
Two more Chinese fund houses have received permission to roll out domestic gold ETFs, with managers saying they will drive competition despite a slumping gold price.
China's first two gold ETFs are set to list, against the backdrop of a recent drop in global demand for the metal – though mainland fund houses see this as a buying opportunity.
Lazard names new Australia CEO, HuaAn hires former Kaisen CIO, T Rowe adds a fixed income head, and CBRE appoints Asia-Pacific chief operating officer.
China's funds industry continues to be plagued by high turnover, with HuaAn naming Zhu Zhongqun as chairman after losing five senior managers this year.