Tokio Marine appoints new CEO for Asia region; Ben Rudd made CEO of Prudential Wealth Management; HKEX hires from Prudential; Samsung SRA appoints former KIC infra head as CEO; HSBC Asset Management appoints senior vice president; Morningstar names head of manager research for Europe and Asia; PGIM adds ESG lead for Europe and Asia; Apex Group adds Singapore managing director; and more.
In this fund, which is not fully guaranteed, investors gain exposure to AsiaÆs three key markets û Japan, Korea, and Hong Kong - and can achieve a progressive 10% return each year should any of the markets reach a 5% return or more since the launch.
ôThe Asian growth story is sure to happen, but knowing where and when to invest is key," says Andrew Au, senior VP at SG Structured Products. "This fund is unique in the market as it helps investors achieve a target return based on the Asian growth story but without the need to decide at the out start, which markets to invest and when."
HereÆs how it works.
The manager will invest the fundÆs assets in the Hang Seng Index, the Nikkei 225 Index and the KOSPI 200 Index with an aim to offer investors a target potential return of 10% per annum, as long as the best performing index in the fundÆs basket of indices achieves 5% return or more that year since inception.
If the best performing index records a performance equal to or above 5% at the end of year one, investors will receive a potential return, which is 10% for the first investment cycle or the higher of prevailing net asset value. Once the target is achieved, a new investment cycle will start.
Of course, thereÆs a caveat. If the best performing index records a performance less than 5% at the end of year one, the fund will continue its investment strategy with an aim to achieve a progressive potential return of 20% and 30% for year two and year three respectively. What is required is for the best performing index in the fund's remaining basket of indices to achieve a 5% or more return at the end of year two or year three (as the case may be) versus the investment cycle start date.
This means if the performance of the best performing index is below 5% for all of the observation periods, investors will get a realisation price based on the performance of the final index, which may be a positive or a negative percentage after three years. Thus investors may receive less than their initial investment.
While past experiences are no guarantees of the future, Lyxor Asset managers point out that in the past 12 years out of the past 15 years, one or more indices recorded performances equal to or above 5%.
Offered until 3 March, the launch date is 8 March, with a base currency of United States dollars and a minimum investment of $3,000. ThereÆs an initial sales charge of up to 3%, with a management fee of 0.50% per annum.
Signatories are advocating for a robust policy on plastic pollution amid concerns that states would support a less ambitious mandate.
The Covid-19 variant is unlikely to cause distress for investors banking on global recovery, but quarantine restrictions in Hong Kong are set to put the bite on any comeback.
China Life names Yuan Changqing as acting chairman; Future Super hires operations chief; China Life Franklin Asset Management CIO and deputy CEO leave; Willis Towers Watson has hired Kameswara Natakusumah as head of Indonesia; Prudential hires ex-Apac CEO for Allianz George David Sartorel as a non-executive director; Manulife IM hires into multi-asset solutions team in Asia; PineBridge Investments hires from BNY Mellon IM; and more.
The family office of Alibaba's co-founder likes to do its own hands-on due diligence and favours deals that can make a difference, rather than investments for the sake of ESG.