Published by Asia Asset Management – 7th Dec 2018
SGX, China’s Nanhua Futures to develop indices for Belt and Road Initiative
Singapore Exchange (SGX) has teamed up with Chinese financial services company Nanhua Futures Co., Ltd. to develop investment options under China’s Belt and Road Initiative (BRI).
SGX’s index business, SGX Index Edge, will work with Nanhua Fund, a unit of Nanhua Futures, to identify the types of indices and methodologies that could be in demand by investors in China and overseas, SGX says in a statement on December 3.
“Specifically, both parties will design and develop indices that are representative of the BRI. In addition, SGX and Nanhua Futures will jointly conduct and promote equity research on Singapore stocks that would be of relevance and interest to Chinese and international investors,” the exchange adds.
The BRI is a long-term China development strategy to connect about 65 countries in Asia, Africa and Europe to open up new trade corridors and strengthen infrastructure, trade and investment links.
SGX cites a World Bank report which says BRI economies account for one-third of global economic growth and trade, almost two-thirds of the world’s population, and three-quarters of known energy reserves.
India’s Axis Mutual Fund launches growth fund
India’s Axis Mutual Fund launched its Axis Capital Builder Fund – Series 4 on December 3.
The fund will invest in a diversified portfolio of equity and equity-related instruments, the company says in a statement on the day of the launch.
The minimum subscription amount is 5,000 rupees (US$70.85) and the closing date is December 14.
India’s DSP Mutual Fund unveils income fund
India’s DSP Mutual Fund unveiled its DSP FMP Series income fund, which will invest in debt and money market securities.
The three-year fund will only invest in securities which mature on or before the scheme’s maturity, the company says in a statement on December 3 when it was launched.
The fund closed on December 6. The minimum subscription amount was 5,000 rupees (US$70.85).
India’s HDFC Mutual Fund launches income fund
India’s HDFC Mutual Fund launched its HDFC Mutual Fund on December 4.
The fund will invest in debt or money market instruments and government securities, the company says in a statement on the day of the launch.
The fund closed on December 5. The minimum subscription amount was 5,000 rupees (US$70.85).
