SINGAPORE: Investment Managers Cancelling Trips to Hong Kong.
As published on finews.asia, Tuesday February 25, 2020.
The Investment Management Association of Singapore has concluded a survey with its member firms to better understand their business continuity plans.
The detailed results of the survey by the Investment Management Association of Singapore (IMAS) focus on the following findings:
45 percent of firms have adopted a split team working arrangement
98 percent of firms have suspended all employee travel to China
64 percent have suspended travel to other parts of the world; Hong Kong was the most frequently selected country during the time of the survey
While 73 percent are canceling or deferring its events, 8 percent said during the time of the survey that their events would proceed as planned
Three-quarters of those in the latter group said they are exploring alternative formats for their events 29 percent said their China-related fund launches or fund business will unlikely be impacted by COVID-19
When asked how likely their fund launches or fund businesses in other parts of the world would be impacted
One-quarter of firms said unlikely
One-quarter of firms seemed to be undecided/neutral in their response
IMAS received 51 responses from member firms that included Aberdeen Standard, Blackrock, BNP, Franklin
Templeton, Fullerton Fund Management, KPMG, and Nikko Asset Management (full list of firms included here).
The survey was conducted between 10 to 24 February 2020.