Asset Management Company News
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Nova Ljubljanska Banka d.d., will be the first Slovenian bank to transfer bad loans to the state- owned bank asset management company this month as part of efforts to recapitalize the ailing financial industry.
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State Bank of Vietnam plans to start operations of its asset management company in mid-July to clean up nearly $5 billion of bad debt at lenders and accelerate the country’s banking restructuring process.
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Slovenian borrowing costs fell from close to a record as higher-yielding European bonds advanced amid speculation major central banks will maintain stimulus.
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Vietnamese regulators will submit a proposal next month to ease restrictions on foreign ownership in companies as they lure more international investors to a stock market that’s 14 times smaller than Singapore’s.
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Slovenian benchmark bond yields rose to a six-week high, testing the euro-area nation’s government as it seeks to persuade investors it has no need for a bailout.
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QIC Global Real Estate, the property arm of Queensland state’s asset management company with A$10 billion ($9.7 billion), plans to buy more U.S. malls after investing in shopping centers in the world’s biggest economy.
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Germany’s approach to repairing the euro area’s finances, by holding the feet of feckless governments to the fire and forcing them to make difficult adjustments, has lately fallen out of favor. The case of Slovenia, though, suggests the tough-love strategy might yet have some merit.
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International investors are buying the most Vietnamese stocks in five years, lured by Southeast Asia’s cheapest valuations and government efforts to bolster economic growth. The benchmark index rose the most in Asia to a 27-month high today.
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Vietnam will find it “difficult” to cut interest rates further this year, central bank Deputy Governor Nguyen Dong Tien said, as the nation moves to create an asset company that would clean up bad debt and revive growth.
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PYN Elite, Finland’s best-performing fund, is helping to drive a stock rally in Vietnam as it abandons Thailand, where the portfolio has reached annual returns of almost 25 percent for the past 14 years.
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