Advance Asset Management has seeded two new funds with $200 million each, Investor Daily reports. The Advance Asian Shares Multi-Blend Fund and Advance Cash Multi-Blend Fund were launched with money from the firm’s $9.5 billion worth of diversified funds. The cash fund was managed against the UBS Bank Bill Index and was overseen by two fund managers. The Asian shares fund is run by a Hong Kong-based manager from TT International and a Singapore-based manager from Wellington Management.
Click here for the story from Investor Daily.
Click here for additional coverage from Financial Standard.