. 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. The index fund giant closed its Singapore operation in 2018. It seems counterintuitive that Vanguard would have this many offices located around the world while also offering some of … 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. 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 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. by Rupert Walker 27 August 2020 27 November 2020. 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 … It said the departure from … At Vanguard, wherever you are in life, we’ll meet you there. ETF business. By using this website you acknowledge that your access to the information on this website is governed by the laws of Hong Kong. 782 6511 15. Vanguard - Tokyo, Japan: 35.709026, 139.731993. Vanguard, the world's second-biggest asset manager after BlackRock, plans to close its Hong Kong office and exit its exchange-traded fund business … Hong Kong is home to Vanguard's main office in Asia after the index group closed its Singapore operation in 2018. 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. Although some of the 50 staff in the Hong Kong office will relocate to Shanghai, the majority will be made redundant. The index fund giant closed its Singapore operation in 2018. Investors should refer to the fund prospectus for further details, including the product features and risk factors. “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. Scott Conking, head of Asia and a 36-year Vanguard veteran, will eventually relocate to Shanghai from Hong Kong. Company Reg. “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. 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. 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. “We are maintaining sufficient crew to help wind down the office and serve clients through … The … 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). 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. Indonesia Batam PT Laut Mas. Vanguard - Hong Kong, Hong Kong: 22.396428, 114.109497. Copyright (c) 2019. 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. Instead, the decision seems to be motivated mostly by the firm’s ability to sell funds to retail investors. Investment involves risks. Vanguard has operated in Hong Kong since 2013 and employs around 50 people in the city. No. It has six ETFs listed on the local bourse, which collectively have $150.6m in assets, according to data from the Hong Kong Exchange. “We closed our Singapore office in 2018 as part of this evolution.”. Certainly, it would be perverse to shift headquarters from Hong Kong to Shanghai because of concerns about the extended reach of mainland China authority. 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. 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. By using this website you acknowledge that your access to the information on this website is governed by the laws of Hong Kong. Most of them will be laid off “over a period of time”, company spokesperson says. The company’s future focus in Asia will be mainland China, with its primary regional office in Shanghai, he said. 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". Hong Kong has been home to Vanguard’s main office in Asia after the index fund giant closed its Singapore operation in 2018. 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. Culture. We use cookies to give you the best experience. 48/F, The Center99 Queen's Road CentralHong Kong. Last December, it formed a joint venture with Ant Financial, owner of online platform Alipay, to advise on funds distributed to a retail market. 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. Hong Kong is home to Vanguard’s Asian headquarters. We’re committed to our most valuable asset: our crew. 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. 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. The retreat will involve job cuts in Hong Kong, where Vanguard employs about 50 people. All rights reserved. Vanguard Investments Hong Kong Limited (AYT820), a subsidiary of The Vanguard Group in the US, is licensed with the Securities and Futures Commission ("SFC"). Your email address will not be published. Movies. 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. “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. 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 . 05573633. No news, articles or content may be reproduced in part or in full without express permission of International Adviser. Jln Duyung Komp Citra Permai 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. Vanguard’s locations in Asia are Hong Kong, Tokyo, and Sydney. Vanguard’s Australian presence extends from Brisbane across Melbourne and Perth to Sydney. In a separate statement, a spokesman confirmed that Vanguard would also close in Japan, and shift its primary office in Asia to Shanghai. 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. Registered office address, 14 Bonhill Street, London, England, EC2A 4BX. “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. Past performance is not indicative of future performance. 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 … Hong Kong Hong Kong Vanguard Logistics. Hong Kong has been home to Vanguard's main office in Asia after the index fund giant closed its Singapore operation in 2018. Vanguard Interiors has been at the frontier of interior furnishing since 1991, achieving high standards in design and product quality. With the closure of its Hong Kong and Japan offices, Vanguard will only have Asia-Pacific presences in Shanghai, Beijing and Melbourne in Australia. Explore our best in class health and wellness benefits, paid time off policies, education assistance and more. 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. With the closure of its Hong Kong and Japanese offices, Vanguard will only have Asia-Pacific presences in Shanghai, Beijing and Melbourne in … All investors accessing the website do so on their own initiative and are responsible for compliance with applicable local laws and regulations. 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. Hong Kong is home to Vanguard's Asian headquarters. VAT. In Hong Kong, Vanguard received its first Securities and Futures Commission licences in 2012, according to records from the regulator. 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