Daily Dispatches: HSBC targets the mid market
HSBC is targeting the growing "mid-market" segment in Hong Kong and a number of countries as one of its profit growth drivers. (The Standard)
Temasek Holdings, Singapore's state investment firm, is setting up a wholly owned multibillion dollar investment company with its own money, three people with knowledge of the matter said. Seatown Holdings International will employ a multistrategy to invest in assets from stocks to bonds, targeting absolute returns. (Bloomberg)
Anthony Bolton, one of the best-known names in fund management, is launching one of the biggest-ever investment trusts for private investors and hopes to raise US$1bn from private investors to pump into China. (Financial Times)
The Commonwealth Bank has duly delivered on its promise of super-charged profits for its latest half year with cash net profit hitting A$2.94 billion - a 54 per cent increase on the corresponding period 12 months ago.
