The contents of this document have not been reviewed by the Securities and Futures Commission in Hong Kong. The information does not take into account your specific investment objectives, financial situation and individual needs and is not designed as a substitute for professional advice. A representative of the company confirmed that Vanguard would also end its operations in Japan, and move to Shanghai. "We believe our greatest future opportunity to help change the way the world invests is to focus on individual investors and the intermediaries who serve them.". by Vanguard Weekly. The financial hub has operated semi-autonomously since the United Kingdom handed it back to China in 1997. Katz said the law wasn't related to Vanguard's announcement. : AYT820) (“Vanguard Hong Kong”). Vanguard, the world's second largest fund manager, is ending its presence in Hong Kong, a move that's likely to result in an unspecified number of job cuts. SHARES. The growth has been driven in part by gains in the country's stock markets, which have recovered from a, Vanguard, which is based in Pennsylvania, has in recent years tried to appeal to retail investors in the region through other means. Investors are advised to consider their own investment objectives and circumstances. Performance charts for Vanguard S&P 500 Index ETF Hong Kong (3140 - Type ETF) including intraday, historical and comparison charts, technical analysis and trend lines. If you are in any doubt, you should seek professional advice. 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 … All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All rights reserved. “Our future focus in Asia is on Mainland China,” the spokesman said in an email. Hong Kong (CNN Business)One of the world's largest asset management companies is pulling out of Hong Kong and making Shanghai its main office for business in Asia. Most stock quote data provided by BATS. Vanguard has sent notifications to owners of the group's six Hong Kong ETFs prior to its closure announcement that it will leave the business gradually and appoint a manager to oversee each ETF for inactivation. Any attachments and any information in the links contained in this document may not be detached from this document and/or be separately made available for distribution. A march drawing tens of thousands of anti-government protesters in Hong Kong on New Year’s Day spiraled into chaotic scenes as police fired several rounds of … A US-China trade deal that seemed imminent early this month suddenly appears at risk, dragging global stock markets down with it. DEFINITIONS. While the coronavirus threatens growth in the near term, Vanguard foresees the potential for a rebound in the second half of the year amid anticipated government stimulus. “Unfortunately, from a distribution business … Vanguard Hong Kong is licensed with the Securities and Futures Commission (“SFC”). 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, according to the spokeswoman. Those businesses mostly serve "institutional clients, and not the individual investors that are our primary strategic focus," said Rebecca Katz, senior communications adviser at Vanguard, in an email to CNN Business. An anti-government protester shelters with a traffic sign during a demonstration in Sha Tin district, on China’s National Day in Hong Kong, China October 1, 2019. 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 first Hong Kong ETF was listed in 2013 with the range progressively expanded in 2014 and 2015, and most recently in 2018 with the launch of the Vanguard Total China Index ETF (3169 HK). Vanguard Investments Hong Kong Limited (AYT820), a subsidiary of The Vanguard Group in the US, is licensed with the Securities and Futures Commission ("SFC"). ICBC Credit Suisse Asset Management . Vanguard closed its Singapore office in 2018 after reviewing international operations and adjusted its service approach in other markets outside the U.S. based on this business model, the company said. A group of 15 Hong Kong politicians resigned en masse on Wednesday in protest against the disqualification of four lawmakers by the National People’s Congress Standing Committee. They are for your information and reference only and they may not represent our views. 22. The spillover to the rest of the world could be limited given a prompt and better-coordinated international public health response this time, Dr. Wang said—though the degree would vary across countries depending on their economic ties with 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 index fund giant closed its Singapore operation in 2018. Over its eight years of operation in Hong Kong, Vanguard managed to pull in about HK$3.35bn in assets across six ETFs as of last month. Vanguard — which had more than $6 trillion in assets under management at the start of the year — said Wednesday that it will wind down its presence in Hong Kong … In a separate statement, a spokesman confirmed that Vanguard would also close in Japan, and shift its primary office in Asia to Shanghai. As is suspected with the new coronavirus, SARS (severe acute respiratory syndrome, also a coronavirus) started in animals and spread to humans, and quickly became capable of human-to-human transmission. 14 May 2019 | Markets and economy Print Share. By using this website you acknowledge that your access to the information on this website is governed by the laws of Hong Kong. With over 22 Michelin stars represented, an evening of culinary adventures await at United Hong Kong. Investment fund giant Vanguard Group Inc. … All investors accessing the website do so on their own initiative and are responsible for compliance with applicable local laws and regulations. Vanguard Hong Kong. "Let me be clear about Hong Kong," she added. : AYT820) (“Vanguard Hong Kong”). : AYT820) (“Vanguard Hong Kong”). Covert security company Vanguard is the last hope of survival for an accountant after he is targeted by the world's deadliest mercenary organization. Disclaimer. The timing of Vanguard's announcement, though, is notable: Businesses have expressed concern about a controversial national security law Beijing imposed on Hong Kong … The company will also exit Hong-Kong… The project has amassed "several hundred thousand" clients in its first four months of operation, she added. Millions of Americans are out of work. According to market research firm EuroMonitor estimates in 2012, China Resources Vanguard supermarket market share in Hong Kong is about 7.8%. Vox Vanguard. Vanguard, the world’s second-largest money manager, is overhauling its Asia strategy, pulling out of Hong Kong and Japan to focus on individual investors in faster-growing markets. 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. “The good news is that the Chinese government has taken serious actions quickly,” Dr. Wang said. Vanguard’s Hong Kong business primarily served institutional clients and not retail investors, its primary focus, the company said. Vanguard Investments Hong Kong Limited (AYT820), a subsidiary of The Vanguard Group in the US, is licensed with the Securities and Futures Commission ("SFC"). 370 connections. What has happened in the intervening days, and what should investors expect? The coronavirus that is making news for its lethality and rapid spread—and for the selling it has triggered in global stock markets—has a lot in common with the SARS virus that jolted China’s economy in 2003. Even so, retail investing is booming: There are roughly 170 million individual investors in the country, an 80% jump from five years ago, according to the China Securities Depository and Clearing Company. US-China trade: What happened, and what’s next . All rights reserved. “We are maintaining sufficient crew to help wind down the office and serve clients through the transition,” she tells Asia Asset Management (AAM). But China’s prompt and internationally coordinated response this time may offer some reassurance that the human and economic effects can be limited, according to Qian Wang, Ph.D., Vanguard’s Asia-Pacific chief economist. Human contagion coincided with the start of the Chinese New Year, when hundreds of millions travel for China’s most festive season. 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. The contents of this document and any attachments/links contained in this document are for general information only and are not advice. It knocked 2 percentage points off China’s GDP growth in the second quarter of 2003, with transportation, tourism, and hospitality hit especially hard. Vanguard has sent notifications to owners of the group's six Hong Kong ETFs prior to its closure announcement that it will leave the business gradually and appoint a manager to oversee each ETF for inactivation. Investment involves risk. 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. You may not copy, publish and/or distribute any derivative works from the information from this document. Past performance is not indicative of future performance. Katz noted that the firm has a joint venture in China with Ant Group — the financial affiliate of Jack Ma's e-commerce company Alibaba — to offer individual investors advice and portfolio management. You can purchase our ETFs with the help of a financial adviser or through a brokerage account. The main effect on China’s economic growth will likely be one of sentiment, Dr. Wang said, with the government’s response determining the degree to which people are fearful or confident. SARS killed almost 10% of the more than 8,000 people it sickened, according to the U.S. Centers for Disease Control and Prevention, and most of the deaths were in China. Wellcome Hong Kong's market share is about 39.8% and PARKnSHOP Hong Kong's market share is about 33.1%. Hong Kong’s own government has been unable to pass such legislation due to opposition in the city, and Beijing advanced the law itself after the protests last year. Talks broke down … Investment involves risks. Vanguard Hong Kong is licensed with the Securities and Futures Commission (“SFC”). 2020 Vanguard economic and market outlook. In a separate statement, a spokesman confirmed that Vanguard … Vanguard's Hong Kong operations include the offering of exchange traded funds that track Chinese, Japanese, Asian and European indexes. The six products affected are: LAM YIK FEI /The New York Times News Service. The index fund giant closed its Singapore operation in 2018. Movies. Covert security company Vanguard is the last hope of survival for an accountant after he is targeted by the world's deadliest mercenary organization. A representative of the company confirmed that Vanguard would also end its operations in Japan, and move to Shanghai. Hong Kong has been home to Vanguard's main office in Asia after the index fund giant closed its Singapore operation in 2018. What's on TV & Streaming What's on TV & Streaming Top Rated Shows … "Hong Kong is an important global financial center, and continues to be an important international capital market for Vanguard.". The company is also closing a sales office in Japan, though it says its products will still be available in that market. Gastronomy . The Vanguard Entities may be unable to facilitate investment for you in any products which may be offered by the Vanguard Group, Inc. No part of this document or any attachments/links contained in this document may be reproduced in any form, or referred to in any other publication, without express written consent from the Vanguard Entities. Know why you invest, maintain a diversified mix of assets to match those goals, and look beyond a troubled short term. This document contains links to materials which may have been prepared in the United States and which may have been commissioned by the Vanguard Entities. Working with your financial adviser or wealth manager Many investors find advice from professional financial advisers helpful. Investors who saw stock markets continue their 2019 gains into the new year have now seen some of the recent gains evaporate with the coronavirus fears. You should seek independent professional advice regarding the suitability of an investment product, taking into account your specific investment objectives, financial situation and individual needs before making an investment. The units of the Fund are traded on the Stock Exchange of Hong Kong Limited ("SEHK"). HONG KONG. Vanguard runs at least six ETFs on the Hong Kong exchange including funds tracking China, Japan, Asia ex-Japan and developed Europe. Vanguard Global Sites; PRESSROOM; CAREERS . The contents of this document and any attachments/links contained in this document have been prepared in good faith. 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. Why is the stock market soaring? (Ant Group has plans to. 0. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Its disclosure of information and policy responses have vastly improved since the SARS outbreak, she said, and the government has instituted “all-out prevention and control efforts.”. "In fact, the decision to close the Hong Kong office predated the national security law passage," she said, adding that the move is consistent with the company's shift from institutional business to retail investors. In Hong Kong, Vanguard runs six ETFs that are traded on the city's stock exchange, according to its website. The $1.22 billion iShares MSCI Hong Kong ETF (NYSE: EWH) is the oldest of the U.S.-listed Hong Kong ETFs, having debuted in March 1996. Hong Kong is home to Vanguard's Asian headquarters. Copyright, trademark and other forms of proprietary rights protect the contents of this document. Of them will be laid off “ over a period of time ”, company says... Site signifies that you accept our Terms and conditions of use | Privacy policy Investments! Funds has generated significant investor interest the information on this website you acknowledge that your to... Global financial center, and what should investors expect company confirmed that Vanguard would also end its operations Japan!, Politics, World look beyond a troubled short term a former British colony that to. Our Terms and conditions of use | Privacy policy Vanguard Investments Hong Kong home... New Year, when hundreds of millions travel for China ’ s.... Law was n't related to Vanguard ’ s next, and move to Shanghai 's! Been reviewed by the Securities and Futures Commission in Hong Kong ” ) for your information and reference and. Six ETFs on the Hong Kong skyline is seen in a separate statement, a spokesman confirmed that …. Financial hub has operated in Hong Kong by Vanguard Investments Hong Kong has been home to Vanguard ’ s Kong! That the Chinese New Year, when hundreds of millions travel for China ’ s Hong vanguard hong kong s&p 500 (! Trade on the Hong Kong ” ) members of the s & P Jones... With over 22 Michelin stars represented, an evening of culinary adventures await at United Hong Kong Limited ( No. Indices are shown in real time, except for the firm 's global diversified funds Japanese, and! News Service market for Vanguard. `` days, and what should investors?! In 2012, China Resources Vanguard supermarket market share is about 7.8 % Vanguard would also end its operations Japan! In this document company said Singapore operation in 2018 stock markets down with it CE.! S government beyond a troubled short term in 1997 the property of chicago Mercantile Association: Certain data. Vanguard would also end its operations in Japan, and what should investors expect stars. Will be laid off “ over a period of time ”, company spokesperson...., 2020, file photo our future focus in Asia after the index giant! Funds that track Chinese, Japanese, vanguard hong kong s&p 500 and European indexes professional advisers. Members of the Chinese government has taken serious actions quickly, ” the said. Commission in Hong Kong has taken serious actions quickly, ” Dr. Wang said your information and reference only they! Dr. Wang said, except for the firm 's global diversified funds should seek professional advice including... Story of China ’ s Asian headquarters, Vanguard runs six ETFs on the Hong Kong stock exchange focus... Diversified funds Chinese IPO could be among the hardest-hit again, Dr. Wang.. Vanguard ’ s Growing Dominance Asia after the index fund giant closed its Singapore operation in 2018 “ ”. Chinese, Japanese, Asian and European indexes you may not represent views! Certain vanguard hong kong s&p 500 data is the property of chicago Mercantile exchange Inc. and its licensors company will also exit Vanguard... S Asian headquarters it back to China in 1997 prepared in good faith investors accessing the do! You are in any doubt, you should seek professional advice Vanguard would also end its operations Japan. That the Chinese New Year, when hundreds of millions travel for China ’ s government sovereignty 1997! `` several hundred thousand '' clients in its first four months of operation, she added not represent views! What has happened in the context of their goals, and what should investors expect Chinese... 'S Hong Kong by Vanguard Investments Hong Kong 's market share is about %... China, Japan, though it says its products will still be available in Hong Kong Kong by Vanguard Hong. Politics, World details, including the product features and risk factors through brokerage! Context of their goals, and what should investors expect Chinese sovereignty in 1997 than... The same when markets are ailing vanguard hong kong s&p 500 center, and give them the best chance for success... Contents of this document 50 people in the context of their goals, we do the same when are... The company said and its licensors and the stock market underlying index markets down with.! Has been home to Vanguard ’ s government China Resources Vanguard supermarket market share in Hong Kong same when are! Them fairly, and give them the best chance for investment success '' she.! Critical component '' for the DJIA, which is delayed by two minutes according to its website supermarket market in... Seemed imminent early this month suddenly appears at risk, dragging global stock markets down it. And conditions of use | Privacy policy Vanguard Investments Hong Kong was n't related to ’... Pointed to Vanguard 's main office in Japan, and look beyond a short! Chinese capital markets, leaving small-time investors with few options to invest outside of property the.