AsianInvestor's June 2011 edition now online

Jun 9, 2011

We examine what's behind Japanese investors' love for 'double-decker' global bond funds, moves to allow IFAs to break China's distribution log-jam and how Asian family offices are taking a leaf from Rothschild's book. We also unveil our investment performance awards.

REGULARS
4 Up front
HKMA enters alternative investments; Safe mounts
recruitment campaign; SSgA eyes Asia retail market;
Japan’s PFA mulls illiquid investments

12 Up front: on the move
Fidelity names Mark Talbot regional MD; BlackRock
hires equities CIO; Ayaz Ebrahim to replace Ray
Jovanovich at Amundi

14 Operations manager
Jason Henchman, Neuberger Berman
16 Regulatory roundup
QFIIs to trade futures; HSBC Trinkaus punished in Hong
Kong; India extends bond short selling

18 Fund flows
Asia fund investors tilt toward equities

20 Q&A
Raymond Baer, Bank Julius Baer

FEATURES
22 All aboard the double-decker!
What’s behind Japanese investors’ love affair with ‘double-decker’ global bond funds, and when – and how – will it come to an end?

26 China uncorking fund-sales bottlenecks
The current distribution model for mutual funds in China is strangling industry growth, but moves to allow
IFAs could break the logjam

28 The pension pie, cut thinly
China’s new rules for enterprise annuities loosen investment parameters, but do nothing to boost economies of scale

32 Credit to the fore in Asian bonds
Asian fixed-income portfolio managers are reaching for spread in anticipation of rising interest rates impacting government issuance

36 The new Orient Express
A young asset management market and a booming local economy: welcome to Turkey, Europe’s latest investment destination

38 Asian Islamic products battle for primacy
Islamic investment continues to take gradual steps towards widespread take-up, including landmark products in Asia’s Reit and sukuk markets

40 Slimmer institutional pickings in Manila
The GSIS debacle means opportunities in the Philippines for foreign asset managers just got scarcer, undermining efforts to attract global players onshore

42 Inflation and currency debated
At AsianInvestor’s 6th annual Asian Investment Summit

46 2011 AsianInvestor Investment Performance Awards
The best in equities, fixed income, alternatives, onshore businesses and distribution

ALTERNATIVE INVESTOR
72 Families open for business
How Asian family offices are starting to take a leaf out of Rothschild's book

74 Is Asian private equity losing its lustre?
Global LPs are starting to feel that Asian private equity might not be the gold mine it once was, as returns come to correspond to public market beta. But local GPs have a different story

76 Asian hedge funds turn a corner
Statistics suggest Asian hedge fund assets may enjoy a banner year, although the money still seems to be flowing to global managers

80 Alternative Q&A
Philip Catmur, Reech AiM Group

82 Alternative roundup
MGPA triumphs in Singapore; Jarvis joins Morgan
Stanley; Hamilton Lane relocates MD to Asia