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ISSN 2397-284X. “In fact, the decision to close the Hong Kong office predated the national security law passage, and is consistent with our longer-term strategic shift from institutionally-focused businesses to products and services focused on retail investors,” she added. By using this website you acknowledge that your access to the information on this website is governed by the laws of Hong Kong. Vanguard’s locations in Asia are Hong Kong, Tokyo, and Sydney. Vanguard Group, the company known for pioneering low-cost index funds, is trimming its operations in Asia by shutting shop in Hong Kong and Japan, the Wall Street Journal reports.. Hong Kong Hong Kong Vanguard Logistics. However, the Hong Kong stock market will remain a critical component for Vanguard’s global diversified funds, and the Stock Connect and Bond Connect channels will provide them access to the A-share and China bond markets, the firm said. No news, articles or content may be reproduced in part or in full without express permission of International Adviser. Certainly, it would be perverse to shift headquarters from Hong Kong to Shanghai because of concerns about the extended reach of mainland China authority. 05573633. The firm will either appoint a manager of the ETF series and each sub-fund, or terminate them entirely. Instead, the decision seems to be motivated mostly by the firm’s ability to sell funds to retail investors. U.S. asset manager Vanguard Group said on Wednesday it will close its operations in Hong Kong and Japan and exit Hong Kong exchange-traded funds, citing unsupportive "industry dynamics". The ETF Connect, Wealth Management Connect and mutual recognition of funds (MRF) initiatives are “all positive developments, but these opportunities do not change the decision we have made”, she added. Vanguard, which manages $6 trillion globally, closed its Singapore office in 2018. China has demoted the director of the Hong Kong and Macau Affairs Office, the State Council said Thursday, following months of pro-democracy protests in the semi-autonomous city. As part of the closure, Vanguard intends to exit from its exchange-traded fund (ETF) operations in Hong Kong within the next 24 months, according to a filing to the Hong Kong Stock Exchange (HKSE). Copyright (c) 2019. If you do nothing we'll assume that it's okay. For more insight on asset and wealth management in Asia, please click on www.fundselectorasia.com, Tags: China | Hong Kong | Investments | Vanguard, Your email address will not be published. VANGUARD LOGISTICS SERVICES provides ocean transportation to and from the United States and throughout the world as Vanguard Logistics Services (USA), Inc. dba Vanguard Logistics Services dba Vanguard dba Brennan International Transport dba Brennan dba Conterm Consolidation Services dba Conterm dba Direct Container Line dba DCL dba Ocean World Shipping dba OWS dba Ocean Express … Culture. 782 6511 15. All investors accessing the website do so on their own initiative and are responsible for compliance with applicable local laws and regulations. Scott Conking, head of Asia and a 36-year Vanguard veteran, will eventually relocate to Shanghai from Hong Kong. As part of its departure from Hong Kong, Vanguard is also seeking an “orderly exit” from its six Hong Kong-listed ETFs, and is investigating unwinding options for each of the entities. In a separate statement, a spokesman confirmed that Vanguard … No. Investors should refer to the fund prospectus for further details, including the product features and risk factors. Vanguard established its first Asia-Pacific office in Australia in 1996, followed by Tokyo in 2000, Singapore in 2003, Hong Kong in 2011, Beijing in 2014 and Shanghai in 2017. It said the departure from … The company’s future focus in Asia will be mainland China, with its primary regional office in Shanghai, he said. “Unfortunately, from a distribution business standpoint, the current industry dynamics in Hong Kong – and Japan – are better suited to institutional investors and do not support the scale needed for us to operate the economic engine behind our low-cost, individual investor-orientated model,” said the spokeswoman. By using this website you acknowledge that your access to the information on this website is governed by the laws of Hong Kong. All rights reserved. Today, the company has presence across 9 … Vanguard Investments Hong Kong Limited (AYT820), a subsidiary of The Vanguard Group in the US, is licensed with the Securities and Futures Commission ("SFC"). Hong Kong is home to Vanguard's Asian headquarters. The … The firm is actively pursuing a mutual fund manager license which would enable it to offer public funds and serve retail investors directly, she added. Required fields are marked *. Explore our best in class health and wellness benefits, paid time off policies, education assistance and more. Vanguard Interiors has been at the frontier of interior furnishing since 1991, achieving high standards in design and product quality. We’re committed to our most valuable asset: our crew. Your email address will not be published. Vanguard Group Inc. said it plans to end its onshore presence in Hong Kong and Japan to focus on individual investors in faster-growing parts of Asia, resulting in an undisclosed number of … Vanguard, which had $5.7tn in global assets as of end-April, closed its Singapore office in 2018 when it also cut one-fifth of its headcount in the Hong Kong office. ETF business. Hong Kong has been home to Vanguard's main office in Asia after the index fund giant closed its Singapore operation in 2018. Investment involves risks. “Vanguard continues to see Hong Kong as an important global financial centre and we cannot rule out the possibility of resuming services more aligned with our strategic priorities at a future date,” the spokeswoman added. Although some of the 50 staff in the Hong Kong office will relocate to Shanghai, the majority will be made redundant. Hong Kong has been home to Vanguard’s main office in Asia after the index fund giant closed its Singapore operation in 2018. In Hong Kong, Vanguard received its first Securities and Futures Commission licences in 2012, according to records from the regulator. Hong Kong is home to Vanguard's main office in Asia after the index group closed its Singapore operation in 2018. The move follows a … Vanguard, the world's second-biggest asset manager after BlackRock, plans to close its Hong Kong office and exit its exchange-traded fund business … Past performance is not indicative of future performance. Vanguard will also close or transfer its Mandatory Provident Fund and Index-Tracking Collective Investment Schemes platforms. Vanguard believes it can contribute to the development of the country’s public fund market, “similar to the way we helped transform the mutual fund market in the US over the past four decades”, said the spokeswoman. Registered office address, 14 Bonhill Street, London, England, EC2A 4BX. by Rupert Walker 27 August 2020 27 November 2020. Jln Duyung Komp Citra Permai Vanguard has been extending its footprint in mainland China, after little activity for two years since opening a wholly foreign-owned enterprise in Shanghai in May 2017. The index fund giant closed its Singapore operation in 2018. The retreat will involve job cuts in Hong Kong, where Vanguard employs about 50 people. Vanguard, the world’s second-biggest asset manager after BlackRock, plans to close its Hong Kong office and exit its exchange-traded fund business in the city following an “extensive review” of its international operations.The Pennsylvania-based index provider notified holders of its six ETFs traded In addition to closing its Hong Kong office, the firm is also said to be closing its offices in Japan. As part of the closure, Vanguard intends to exit from its exchange-traded fund (ETF) operations in Hong Kong within the next 24 months, according to a filing to the Hong Kong Stock Exchange (HKSE). Vanguard Investments Hong Kong Limited (AYT820), a subsidiary of The Vanguard Group in the US, is licensed with the Securities and Futures Commission ("SFC"). Vanguard plans to wind down its Hong Kong operations, which primarily serve institutional clients, over the next six to 24 months, according to Peter Zhang, a Vanguard spokesman in Shanghai. “We are maintaining sufficient crew to help wind down the office and serve clients through … It has six ETFs listed on the local bourse, which collectively have $150.6m in assets, according to data from the Hong Kong Exchange. Vanguard - Tokyo, Japan: 35.709026, 139.731993. Your use of this site signifies that you accept our Terms and conditions of use | Privacy policy Vanguard Investments Hong Kong Limited. Vanguard Group will close its Hong Kong office and its sales and client service office in Tokyo over the coming six to 24 months, the firm said Wednesday. In a separate statement, a spokesman confirmed that Vanguard would also close in Japan, and shift its primary office in Asia to Shanghai. This web page is published by Vanguard Investments Hong Kong Limited and this web page has not been reviewed by the Securities and Futures Commission in Hong Kong. Vanguard, which held $ 5.7 billion in global assets at the end of April, shut down its Singapore office in 2018 while also cutting a fifth of its staff at the Hong Kong office. “We closed our Singapore office in 2018 as part of this evolution.”. All rights reserved. The world’s second largest asset manager has announced that it will close its Hong Kong office as part of its strategic shift to mainland China. We use cookies to give you the best experience. Vanguard - Hong Kong, Hong Kong: 22.396428, 114.109497. Vanguard has operated in Hong Kong since 2013 and employs around 50 people in the city. It seems counterintuitive that Vanguard would have this many offices located around the world while also offering some of … Vanguard - Singapore: 1.352083 ... Posted. Vanguard Investments Hong Kong Limited (AYT820), a subsidiary of The Vanguard Group in the US, is licensed with the Securities and Futures Commission ("SFC"). Last December, it formed a joint venture with Ant Financial, owner of online platform Alipay, to advise on funds distributed to a retail market. There is no intention to offer or sell products in countries or jurisdictions where such offer or sale would be unlawful under the relevant domestic law. Vanguard’s Australian presence extends from Brisbane across Melbourne and Perth to Sydney. No. As one of the world’s largest investment management companies, Vanguard is an industry leader whose offices, opportunities and impact span the globe. 48/F, The Center99 Queen's Road CentralHong Kong. Release Calendar DVD & Blu-ray Releases Top Rated Movies Most Popular Movies Browse Movies by Genre Top Box Office Showtimes & Tickets Showtimes & Tickets In Theaters Coming Soon Coming Soon Movie News India Movie Spotlight. With the closure of its Hong Kong and Japan offices, Vanguard will only have Asia-Pacific presences in Shanghai, Beijing and Melbourne in Australia. Suite 1705-9 Wing on Centre 111 Connaught Road Central Hong Kong, Hong Kong Phone +86 852 3477 0000 Fax +86 852 2513 8380 Email thomas.lee@vanguardlogistics.com . International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high net worth clients. Company Reg. Find Out More. Vanguard, which had $5.7tn in global assets as of end-April, closed its Singapore office in 2018 when it also cut one-fifth of its headcount in the Hong Kong office. Menu. Vanguard leaves Hong Kong The US asset manager will close its Hong Kong ETF business and move its regional HQ to Shanghai. Hong Kong is home to Vanguard’s Asian headquarters. VAT. Most of them will be laid off “over a period of time”, company spokesperson says. Vanguard will transfer its Asian headquarters to Shanghai after announcing plans to exit its Hong Kong and Japan operations in a bid to focus on individual investors in mainland China. Access full content on the International Adviser site, access your saved articles, control email preferences and amend your account details, Firm has ‘future aspirations’ in Asia to serve Chinese individual investors in mainland China. By using this website you acknowledge that your access to the information on this website is governed by the laws of Hong Kong. The Vanguard spokeswoman said the departure from Hong Kong had “absolutely no connection” to the controversial National Security Law imposed on the territory by Beijing this summer. 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. At Vanguard, wherever you are in life, we’ll meet you there. Vanguard has actually revealed it will exit Hong Kong and move its Asian head office to Shanghai in a move that will be viewed as a blow to the previous British nest where abroad business have actually revealed issues about China’s current imposition of a questionable nationwide security law. Indonesia Batam PT Laut Mas. Although some of the 50 staff in the Hong Kong office will relocate to Shanghai, the majority will be made redundant. With the closure of its Hong Kong and Japanese offices, Vanguard will only have Asia-Pacific presences in Shanghai, Beijing and Melbourne in … “Our future aspirations in Asia are to serve Chinese individual investors in mainland China, so our Shanghai office will become our primary office in Asia,” a spokeswoman told our sister publication Fund Selector Asia. The index fund giant closed its Singapore operation in 2018. 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