Violet Chung

MPF Ratings today released its July MPF Performance Survey, pointing out that total MPF assets have reached a new record all-time high on the back of MPF’s 5th positive performance month this year. Aided by approximately $6.8bn in performance earnings in July, average MPF account balances are now approximately just under $260,000 at $259,900. The Nasdaq entered correction territory, a warning that MPF members have too much to lose if they get market timing wrong. Find out more here: https://lnkd.in/g5RNs35e #mpfratings #MPFScorecard #MPFHealthCheck #MPFFastMover #MPFRConsistentPerformers #MarketInsights #MPFMarketShare #MPFFundFlows #MPFNetReturns #MPFIndustry #pensionschemes #assetmanagement #investmentmanagement #mpf #investment #empf

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我很榮幸與太平紳士及中文大學家族企業研究中心榮譽資深項目總監阮先生會面。我們討論了香港如何推動家族辦公室的擴展、中文大學家族企業研究中心的研究和未來發展方向等內容。同時，我也瞭解到一瑄家辦在快速發展的同時如何協助推動香港家族辦公室行業的發展。非常感謝您的分享和啓發，也感謝與合作的機會。我期待著在下半年實施我們的合作計劃。 I had the privilege of meeting Mr. Yuen JP, the Honory Senior Project Director of the Center for Family Business of CUHK. We discussed how Hong Kong is promoting family offices, the research conducted by the Family Business Research of CUHK, and its future development directions. Additionally, I gained insights into how Jadeite Family Office is contributing to the rapid growth of the family office industry in Hong Kong. I sincerely appreciate his sharing and inspiring me, as well as the opportunity for collaboration. I look forward to implementing our cooperation plans in the second half of the year. #jadeitefamilyoffice #familyofficeHK

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Thanks so much to the Citi team for having us on the panel. By walking through some real-life cases, we also discussed how to leverage HK to “sail rightfully” to offshore markets and attract star companies to go inbound. Last but not least, I also explained the importance of tech investment, directly and indirectly, contributing to the territory’s long-term competitiveness in technology racing and further to national security. Aveline San Joy Cheng Jane Tsui Martin Wong Samuel Dzotefe Sean (Chanho) Ahn

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Astounding news in e-commerce: last month’s inaugural Hong Kong Shopping Festival has just made waves by amassing over 90 million views across various mainland Chinese e-commerce platforms! The festival featured over 30 livestreaming events across platforms like 小紅書(Little Red Book), 抖音(Douyin), and 淘寶(Taobao) with renowned hosts, generating impressive sales for participating brands. It was a fantastic opportunity for brand visibility and business performance: for instance, a vendor reported a 135-fold increase in orders during the festival! Events like Hong Kong Shopping Festival 2024 are great ways for local businesses to gain exposure to the mainland market and foster innovation in the wider GBA e-commerce landscape. The HKSAR Government also has ongoing support for SMEs through initiatives like the SME Export Marketing Fund. It’s clear that there’s now significant opportunities for businesses to expand into the mainland e-commerce market! #HongKong #Ecommerce #SMEs #BusinessGrowth #Innovation https://lnkd.in/giqazMgr

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The power of regular saving and compounding. Get chatGPT work for you to optimize a portfolio tailored to client need. https://lnkd.in/g4hGitxd

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In Chapter 23 of his series for Nikkei Asia, Henry Kravis discusses what he called the co-founders dilemma and our co-leadership model:

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"South East Asian Private Credit - Trends, Opportunities, Future Outlook and Investment Strategies in Distressed Situations and Beyond", by David Chew (Partner, DHC Capital). Check out this new article published on the Singapore Global Restructuring Initiative (SGRI) Blog! #restructuring #insolvency #distressed #privatecredit #finance #investments #Asia https://lnkd.in/dPaCvJgr

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H&P Financial Services Weekly - Hong Kong’s Hang Seng is the Number One Super market of the week, up > 30%, driven by lower rates and new liquidity. We look at intraday volatility in Q3, which was up on Q2, with that major August spike, which should have helped the leveraged trading platforms PLUS, IGG and CMCX. Rising markets will have added some c. 3% to UK wealth management assets last quarter. Brooks Macdonald estimates are still woefully out of date, in our opinion. Premier Miton reveals more of their MPS plans. Man Group presents an entry point, with AHL underperforming for a while. Tavistock flies on a major disposal which will nonetheless benefit acquirer Saltus. Frenkel Topping would not be at this valuation if it had any liquidity. https://lnkd.in/eDVaAAV5

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MPF Ratings today released its Q3 2024 MPF Asset Class Fund Flow Summary by expressing disappointment that MPF members appear to have not learned from past mistakes resulting in some members making a “double loss”. Rather than capitalizing on discounted markets and focusing on long term diversification, MPF Ratings’ Q3 MPF fund flow data suggests that as the US Nasdaq fell into correction territory and the Nikkei 225 Index recorded its largest points drop ever back in early August, members switched into Money Market Funds, and by doing so simultaneously realized significant losses while missing the subsequent market rebound. Find out more here: https://lnkd.in/gUyW4drA #mpfratings #MPFScorecard #MPFHealthCheck #MPFFastMover #MPFRConsistentPerformers #MarketInsights #MPFMarketShare #MPFFundFlows #MPFNetReturns #MPFIndustry #pensionschemes #assetmanagement #investmentmanagement #mpf #investment #empf

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Hong Kong Exchanges and Clearing Limited (HKEX)’s strategy to help global clients navigate challenges and opportunities in Hong Kong and Mainland markets Read the full artcle: https://bit.ly/3UqlQiq At Sibos 2024 in Beijing, Tae Seok Clement Yoo, managing director of global client development at HKEX, shared insights into how HKEX Group is addressing the evolving dynamics of China's mainland markets. In a landscape shaped by recent government stimulus measures and technological advancements, Yoo outlined HKEX’s strategies to tackle settlement challenges, attract global investors, and enhance cross-border trading infrastructure. The T+0 settlement cycle in China's mainland markets, primarily the Shanghai and Shenzhen stock exchanges, presents both opportunities and challenges, particularly for international investors who are accustomed to the longer cycles of T+2 or T+1. This shortened settlement timeline requires efficient clearing and settlement processes, a critical factor for maintaining investor confidence and mitigating counterparty risks in a fast-paced trading environment. Yoo highlighted that one of the key concerns among investors is the ability to meet settlement requirements within a constrained time frame. HKEX has introduced technological solutions to address these concerns, including its Synapse platform, which improves operational efficiency and enhances the clearing process. This platform was launched to support market participants in coping with the operational challenges of T+0, such as pre-trade checks, settlement accuracy, and exception handling within a shorter window of time. John Hsu, Jacky Mak, Elzio Barreto Foo Boon Ping 胡文彬, Cindy Yu, Eunice Foong, Chris Kapfer, Ruoxin Qi, TAB Global #Sibos2024 #TaeYoo #HKEX #ShanghaiStockExchange #ShenzhenStockExchange #StockConnect #SwapConnect #SynapsePlatform #GlobalClientDevelopment #CrossBorderTrading #FinancialTechnology #T0Settlement #MainlandMarkets #OrionDerivativesPlatform #ChinaCapitalMarkets #TheAsianBanker #TABGlobal

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Banking products are a dime a dozen in Singapore. But there is a segment of consumers that experience more gaps than they need to when it comes to financial solutions. When we spoke to them, a common sentiment that they had was skepticism with banks in general. Why would banks help them at the expense of making money? To get there, we first need to fully understand these ground truths, insights that tell us where our customers are coming from, including the emotions that drive their motivations. Yesterday, we launched the GXS Progress Quotient, a survey that deep dives into the emotions that consumers have when making money decisions. It’s a first step but an important one to make sure we are able to design banking products that make sense for consumers. Thank you Stephanie Ong, Pei Ting Lian, Sujun Huang, Kevin Kwan, Ju Han L., Natasha Rahmat, Sherelynn Lin, Maybelline Tan, Winston Ng, Mindy Tan If you’re interested to find out more, insights from the survey can be found here: www.gxs.com.sg/gxspq2024. #GXSBank #BankingMadeBetter https://lnkd.in/gfaGe96h

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With recent rate cut and tax season around the corner, we’re opening new doors for those who seek flexible and financially smart ways to manage their loans 💰 What sets us apart ? 🚀 It’s not just about competitive rates—it’s about smarter lending that delivers real benefits. Our unique Loan-Deposit-Link (#LDL) feature is a game-changer: like a Mortgage-Link account but re-imagined for everyday loans. By connecting loans to deposit accounts, LDL lets customers earn annual interest rate back up to 2.5% p.a. 📈, one of the highest interest rate of HKD Saving Deposit Accounts in Hong Kong. This means customers aren’t just repaying a loan; they’re gaining a flexible financial advantage. Beyond LDL, our fully digital loan application process takes just 3 simple steps, tailored loan plan and approvals at ease with a competitive 1.68% APR. It’s a seamless, ultimate convenient designed for today’s on-the-go customers.📲 WeLab Bank is set to expand market presence and continue to push boundaries. 🌟For anyone approaching the new year with smart financial goals, we’re here to make lending smarter for you! #welab #welabbank #welend #fintech #AI #dogitalbank #personalfinance #taxseason

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Macro Insights Weekly: Resilient #Singapore Singapore’s growth prospects are bright despite a plethora of internal constraints and external uncertainties. What explains the economic resiliency of the city state? First, despite high costs, Singapore attracts FDI due to world class hard and soft infrastructure. Second, investment-related policy foresight and stability signal commitment to investors. Third, a proactive agenda on health, housing, and education for the population enhance welfare. Fourth, incentives for the next generation of tech and idea help maintain competitiveness. Finally, large financial savings allow for successful and expeditious crisis prevention and mitigation. DBS Bank Wei Liang Chang Full report: https://lnkd.in/g9aNpx3F

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Here is the Japanese version of my recent article on M&A in Japan.

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https://lnkd.in/eTP6F3eG #Luxury-Travel #McKinsey #Leisure #Hospitality #Spending McKinsey has released many reports on luxury travel, and the 2024 edition is out. We won't repeat the usual findings about luxury travelers' preferences for five-star hotels, personalized services, and unique products. Today, we want to discuss McKinsey's definition of luxury travelers and our thoughts on the "new consumption view." McKinsey surveyed 5,061 individuals, defining luxury travel consumers as those with assets over $100,000. Instead of using high net worth to define luxury travelers, McKinsey considers those who purchase luxury travel products as luxury consumers, focusing on their willingness to spend over $500 per night on accommodation. This approach broadens the sample size significantly, as $500 per night isn't extravagant. Therefore, many of us, even those with modest incomes, can be considered luxury travel consumers if we're willing to spend on premium experiences. We certainly believe McKinsey's definition isn't just to increase the sample size. McKinsey explains that 35% of luxury travel spending comes from consumers with a net worth between $100,000 and $1 million. Without debating the accuracy of this data, let's consider what it reflects about current consumer trends. From another perspective, post-pandemic, even with inflation causing tighter budgets in many countries, spending on travel and dining has become more robust. This aligns with the idea of "cherishing the present" due to the unpredictability of life. Christopher Clark's book "The Sleepwalkers: How Europe Went to War in 1914" reflects on how people lacked a real sense of World War I’s onset, much like sleepwalkers. Similarly, NATO and Russia's tensions in Ukraine seem like a sleepwalk towards a potential World War III. Are we sleepwalking, or are the decision-makers capable of preventing such a war the ones sleepwalking? Distinguishing who is sleepwalking is not important. The pandemic and wars highlight life's unpredictability. Instead of leading a monotonous life, many families with assets between $100,000 and $1 million are now willing to spend on what was once considered luxury travel. This includes Michelin restaurants, African safaris, and trips to Antarctica or the Arctic. These families often travel as a unit, even bringing children along, reflecting a desire to experience life fully. This trend includes younger consumers aged 20 to 30 (12%). These families may splurge on special occasions but expect value for their money. They are willing to spend significantly on parts of a trip but not on every aspect. This represents a new consumer trend as identified by Haize Capital. Lastly, individuals with assets in the tens of millions might not fit this study's sample, and their spending patterns could differ from those reflected in this report.

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Kenny Shui, Vice President cum Co-Head of Public Policy Institute, 團結香港基金 Our Hong Kong Foundation (OHKF), Alex Mak, CFA, CESGA, Researcher, OHKF, and Cyrus Hou Yeung Ho, Assistant Researcher, OHKF, stated the challenges of technological upgrading and restructuring faced by many small and medium enterprises (SMEs) in developing artificial intelligence (AI).   How can SMEs source and train the technology professionals they need? Do the Government's subsidies for SMEs facilitate enterprises' investment in AI development? What strategies can the Government adopt to enhance the local AI ecosystem?   Read more: https://bit.ly/4exquD2

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Learn Business Chinese, glimpse financial intrigues. Sip a cup of murky wine, and watch the clouds roll by. 学商务中文，瞥金融内幕。品一壶浊酒，赏云卷云舒。 The Chairman of Harvest Fund Management, one of China's leading fund companies, has been accused by the U.S. House Committee on Oversight and Accountability of funneling $31 million in benefits to a prominent American political family. 中国一流基金公司嘉实基金董事长被美国众议院监督和问责委员会指控向美国顶级政治家族输送利益达3100万美元。 1. 关联公司 Affiliated Company 2. 另类投资 Alternative Investment 3. 资产管理规模 Asset Under Management 4. 非政府组织 Non-Government Organization 5. 砸盘 Crushing the Market 6. 卖空 Short Selling

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