Barclays Bank is one of the world’s oldest banks. In June 2012, it was fined 290 million pounds (US$450 million) for attempting to manipulate the daily settings of London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor). The bank's chief executive, Bob Diamond, decided to give up his bonus as a result of the fine, and subsequently resigned after a wave of criticism against the bank.
SMP fund awards
BARCLAYS Global Investors and ImPac Asset Management boasted the best-performing Hong Kong-authorised China and Hong Kong equity funds in 1996, according to Micropal.
The Barclays ASF China fund posted a return of 78.95 per cent last year, the best of all China equity funds authorised in the territory, while the ImPac AP Hong Kong showed a return of 65.30 per cent, well ahead of the benchmark Hang Seng Index.
One-year performances for the official funds are being recognised for the first time this year as part of the Sunday Morning Post /Micropal Fund Manager of the Year Awards.
Awards for the best-performing funds over three and five years will be presented at SMP /Micropal's Fund Manager of the Year Awards ceremony on March 6 at the Island Shangri-La Hotel.
Over a one-year period, no single asset management house stood out in 1996, with different companies winning in each of the main sectors.
Jardine Fleming boasted the best Asia Pacific fund in 1996 with its JF Pacific Income fund which showed returns of 25.8 per cent.