3 d. ago Hong Kong taps Value Partners, 9 others to manage US$385 million residency fund

Hong Kong Investment Corp (HKIC), the government’s investment arm, on Tuesday appointed 10 asset managers spanning venture capital, private equity, private credit and hedge funds to oversee at least HK$3 billion (US$385 million) under its enhanced cash-for-residency scheme. HKIC said in a statement that the new batch of managers for the investment portfolio under the New Capital Investment Entrant Scheme (New CIES) included Hong Kong-headquartered Value Partners, one of Asia’s largest asset...

Economics

7 d. ago Chinese homeless man fakes wealth, hires women for companionship, lives luxury life

A homeless Chinese man deceived others by posing as a wealthy individual and, over a span of 10 days, managed to “hire” five women for companionship, using their money to fund visits to high-end establishments, buy new clothes, and even acquire the latest smartphone. The scam came to light in August when police in Putuo District, Shanghai, received a report from a woman using the alias Liu Qian. She claimed that she had been swindled by a 36-year-old man surnamed Chen, who pretended to be a...

Society

1 week ago Hong Kong and Malaysian firms launch tokenised AI infrastructure fund

Hong Kong-based Tykhe Capital Group and Malaysia’s Skyvast Digital have launched a US$150 million tokenised fund that offers investors exposure to artificial intelligence infrastructure, using an innovative arrangement designed to share project revenues and boost liquidity. SKYD Token was “the world’s first global-grade AI infrastructure tokenised fund”, Tykhe’s subsidiary, Pioneer Asset Management, and AI infrastructure developer Skyvast said in a press release on Monday. The fund will provide...

Politics

2 w. ago ‘Too early to leave the party’: fund managers say AI stock boom still has room to run

The ambitious spending plans of artificial intelligence developers coupled with rapid user adoption indicate the global rally in their stocks will persist despite bubble concerns, fund managers at Fidelity International and Allianz Global Investors said. The recent downturn in global semiconductor stocks, ahead of Nvidia’s closely watched earnings later this week, was likely to be temporary, according to Joseph Zhang, portfolio manager at Fidelity International. Unless AI capital spending or...

Society

2 w. ago Can Danantara’s haj village bid reshape Indonesia’s global presence?

Indonesia’s newest sovereign wealth fund, Danantara, is making a bold entrance onto the world stage with ambitious plans ranging from bidding to construct a haj village in Mecca to launching one of the world’s largest waste-to-energy initiatives. At the heart of these ambitions is Pandu Sjahrir, chief investment officer of the state-backed fund established by President Prabowo Subianto in February to manage strategic investments and improve governance across public assets. In an interview with...

Politics

3 w. ago China’s sovereign fund sidelines executives amid worries over US scrutiny

China’s flagship sovereign wealth fund has moved three of its managing directors to new, subordinate roles, sources told the Post, with the heads of the fund’s fixed income, private equity and public relations departments all taking new non-managerial positions. All have extensive overseas work experience, and none have reached the statutory retirement age. More reorganising could be on the horizon at China Investment Corporation (CIC), the sources said on condition of anonymity, including those...

Politics

3 w. ago China’s Monolith Management closes Fund II at hard cap of USD 289m

China’s Monolith Management closes Fund II at hard cap of USD 289m  ION Analytics

Politics

4 w. ago Beijing pushes fund managers to launch more equity funds in bid to revive markets

Beijing pushes fund managers to launch more equity funds in bid to revive markets  Private Equity Insights

Politics