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Mirae adds range of Asia Pacific funds

Mirae Asset Global Investments is launching nine emerging markets SICAV funds focused on the Asia Pacific region.

The Luxembourg-domiciled funds will roll out in two phases over June and July and will mirror the firm’s existing Korean domiciled funds.

Recently appointed Hendrik Cosijn von Ripperda and Andrew Lawley, head of European distribution and head of UK distribution and global consultant relationships respectively, will implement the launch alongside a team of local portfolio managers.

Mirae Asset Global Investments chief executive Chunyong Rhie says: “We aim to build our European business by applying the same principles that contribute to our success in Asia, focusing on building long-term value for our clients through bottom up stock selection.”


Pension switch for LibDems

LibDem Shadow Work and Pensions Secretary Danny Alexander is to leave the role to be chief of staff and chairman of the party’s manifesto-writing committee. Cardiff Central MP Jenny Willott takes over.

Banks back B&B rights issue

Barclays, HBOS, HSBC, Lloyds TSB and Royal Bank of Scotland are each thought to have agreed to provide £20m of sub-underwriting to the Bradford & Bingley rights issue after discussions with the FSA amid concerns the rights issue could fail.


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