The latest news in investment offerings, financial products and other services relative to wealth advisors and their clients.

HSBC
HSBC in Singapore has launched an entertainment and lifestyle platform to take the HSBC Premier Mastercard cardholder experience up a gear, it said this week.

The platform serves as a “one-stop destination” for premium entertainment experiences across Southeast Asia and the UK, HSBC said in a statement. 

This builds on HSBC's enhanced Premier offering launched last September.

The UK/Hong Kong-listed lender wants to make money in the affluent client area. According to Mastercard’s ultra-affluent cards data, spending on the “live events and entertainment category” in Singapore grew by 51 per cent from 2023 to 2024. HSBC Singapore will tap into Mastercard’s partnership with Live Nation, a live entertainment company which promotes events such as shows and concerts.

HSBC Premier Mastercard holders, for example, can gain access to the platform for presales for upcoming acts such as Lady Gaga in Singapore, and reserved tickets to selected shows in the UK.

“People today are focusing their attention and precious resources on what makes them feel good – their passions,” Julie Nestor, executive vice president, marketing and communications, Asia-Pacific, Mastercard, said. “In Singapore, music ranks among consumers' top five passions, with most (69 per cent) music lovers wishing that brands did more to acknowledge and incentivise them for indulging in their passion with perks like credit card rewards, immersive live music experiences, and access to pre-sale tickets.”

Manulife
Manulife Investments has launched the Manulife Global Fund – Global Semiconductor Opportunities Fund in Hong Kong.

This fund comprises a “high conviction” strategy, Manulife said in a statement yesterday. At least 70 per cent of the strategy is in equity and equity-linked securities of firms in the semiconductor space.

The Canada-headquartered group said it wants to surf the wave of a semiconductor industry that is expected to surpass $1 trillion by 2030, citing figures from March 2024 from McKinsey. Growth is being driven by AI, data centres and autonomous vehicles, it said.