Noble Investments has launched its Sapphire Notes series of structured notes advised by Chicago-based HFR Asset Management and is promoting them through a series of private banks, independent advisors and consumer banks in Hong Kong, Taiwan and Singapore, as well as Europe.
This follows two similar notes, also advised by HFR, sold last year to high-net worth investors in Taiwan, Singapore and Japan.
Banks in markets such as Taiwan say more than 50% of their fund sales are in the form of notes, says Stewart Aldcroft, regional director at Noble in Hong Kong. Mutual funds are seeing a decline in sales globally because of the uptick...
