This publication brings latest news of product launches for the wealth management sector in Asia.

Singapore-listed ARA Asset Management has set up a company that invests in newly-created commercial property in the Lujiazui Finance and Trade Zone in Pudong New District, Shanghai.

ARA has set up ARA Harmony VI, which will invest in Century Link, with an estimated total value of RMB20 billion ($2.94 billion), described by the firm as “the biggest single-asset property transaction in Asia Pacific this year”.

Century Link is a mixed-use development comprising two high-rise office towers, a six-storey retail podium and 1,275 car parking spaces with total gross floor area of approximately 362,361 square metres.

ARA Harmony VI will be managed by ARA Fund Management (Mapleleaf), which is a wholly-owned subsidiary of ARA. APM China, a property management subsidiary of ARA with a successful track record in China, will be the property manager for Century Link.

As at 30 June 2016, ARA’s assets under management stood at approximately S$29.7 billion ($21.3 billion). The firm manages real estate investment trusts, private funds and directly manages specific properties.