Revelations of malpractice by the Australian investment and pensions firm will reverberate across Asia, where it has a big base of clients and partners. The group is tipped to be split up.
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The fund house's Asia head of real estate says the Chinese territory looks “mighty expensive”, but others feel its relentless rise in property prices is justified.
The $200 billion Malaysian pension fund is enamoured by China's growth opportunities and aims to raise investment allocations in overseas markets over the next 12 months.
Consolidation will continue in the funds industry amid rising cost pressures, with mid-sized firms feeling the tightest squeeze, says Ulrich Koerner, president of UBS Asset Management.
Demand for multi-asset strategies as well as alternatives such as real estate and hedge funds has driven up assets for fund managers in the region, AsianInvestor's latest AI100 survey shows.
With $15 billion under management, the Chinese group's wealth management arm employs a rigorous screening process to pick managers, with a focus on alternative investments.
Given the very long-term nature of their liabilities, insurers are ideally placed to take advantage of the illiquidity premium in alt assets, the group's Hong Kong CIO says.
Many feel the Lion City's property market has bottomed and is set for strong growth in rental yield and capital inflows, after transaction volumes leapt last year.