In addition to closing its Hong Kong office, the firm is also said to be closing its offices in Japan. No. If you do nothing we'll assume that it's okay. 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. Company Reg. 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. The company’s future focus in Asia will be mainland China, with its primary regional office in Shanghai, he said. 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). Although some of the 50 staff in the Hong Kong office will relocate to Shanghai, the majority will be made redundant. All investors accessing the website do so on their own initiative and are responsible for compliance with applicable local laws and regulations. By using this website you acknowledge that your access to the information on this website is governed by the laws of Hong Kong. With the closure of its Hong Kong and Japan offices, Vanguard will only have Asia-Pacific presences in Shanghai, Beijing and Melbourne in Australia. Investment involves risks. 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 has operated in Hong Kong since 2013 and employs around 50 people in the city. Find Out More. At Vanguard, wherever you are in life, we’ll meet you there. It seems counterintuitive that Vanguard would have this many offices located around the world while also offering some of … Jln Duyung Komp Citra Permai Vanguard, which manages $6 trillion globally, closed its Singapore office in 2018. ISSN 2397-284X. Most of them will be laid off “over a period of time”, company spokesperson says. Certainly, it would be perverse to shift headquarters from Hong Kong to Shanghai because of concerns about the extended reach of mainland China authority. 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. “We closed our Singapore office in 2018 as part of this evolution.”. Investors should refer to the fund prospectus for further details, including the product features and risk factors. No. Vanguard will also close or transfer its Mandatory Provident Fund and Index-Tracking Collective Investment Schemes platforms. 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 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. 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. 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 . Vanguard Investments Hong Kong Limited (AYT820), a subsidiary of The Vanguard Group in the US, is licensed with the Securities and Futures Commission ("SFC"). By using this website you acknowledge that your access to the information on this website is governed by the laws of 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. It has six ETFs listed on the local bourse, which collectively have $150.6m in assets, according to data from the Hong Kong Exchange. No news, articles or content may be reproduced in part or in full without express permission of International Adviser. 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 Hong Kong Vanguard Logistics. by Rupert Walker 27 August 2020 27 November 2020. 782 6511 15.
. 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. Your use of this site signifies that you accept our Terms and conditions of use | Privacy policy Vanguard Investments Hong Kong Limited. Menu. Required fields are marked *. 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). As one of the world’s largest investment management companies, Vanguard is an industry leader whose offices, opportunities and impact span the globe. Past performance is not indicative of future performance. Movies. In a separate statement, a spokesman confirmed that Vanguard would also close in Japan, and shift its primary office in Asia to Shanghai. 05573633. 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.