The world's largest asset manager starts with three index equity funds targeting institutional and retail investors in the city, but plans to extend that to active and diversified products in future.
The firm moves to provide index equity portfolio management and equity and derivatives dealing after receiving a type-9 licence. It is also looking to enter a new Asian market.
Internal governance and compliance needs have left institutional managers with less time for due diligence and research, sparking interest in multi-manager services, says Northern Trust.
The social benefits of state investment agencies will be a major driver behind the establishment of new SWFs or existing ones growing in size, argue Kevin Hardy and Wayne Bowers.