In new statements on the extent of greenwashing in the fund management industry, Desiree Fixler highlights some uncomfortable truths about sustainable investing.
Srinivasan is one of the regionÆs most experienced fund management chief executives. He is among a handful of players who can honestly claim to have built the business from scratch.
He joined Prudential ICICI Asset Management in India in 1998, a new joint venture that represented Prudential PlcÆs first fund-management presence in the region. The insurer and its India mutual funds JV represented a collective $30 million of assets under management in Asia Pacific.
In 2001 Srinivasan was picked to lead the Asia-Pacific funds business and moved to Hong Kong. At that point the life insurance business had grown to $1-2 billion but the firm had no retail funds business except its India JV.
Today Prudential Asset Management has a retail funds business in 10 regional markets, and in AUM terms has a top-five market share in India, Malaysia, Singapore, Taiwan and Vietnam. Its businesses in China, Japan and Korea are newer, as is its presence in the Middle East (also under Srinivasan). It manages $58 billion in Asia Pacific as of December. Srinivasan says the amount of assets sourced from the region is also about that size, of which half comes from retail.
He says he is most proud of putting in place effective teams for client service and the establishment of the product development team in Singapore, now led by Choy Peng-wah and Stuart Guinness.
The firm is transferring Alan Wren from London to serve as interim CEO. Wren has worked for Prudential Plc in the United Kingdom, left to work for a spell at Invesco, and has served for a number of years as an advisor to the firm. He is expected to arrive this week or next. The firm will also launch a formal search for a permanent successor.
CDPQ's Ivanhoe Cambridge hires ex-GIC real estate expert; NZ Super adds board member; Future Fund appoints chief people officer; BlackRock real estate CIO joins Singapore's Capitaland; AMP Capital hires MD for energy; Northern Trust AM names new CIO; T Rowe Price hires AU and NZ institutional head; Nuveen hires Southeast Asia institutional head; Citi names sustainability head in Singapore; and more
Investors are increasingly turning to private companies and private debt in their hunt for ESG alpha, but the age-old problem of transparency and due diligence remains
Already on the rise pre-Covid, investments into data centre assets in Asia have accelerated in the past year, fuelled by interest from investors across the spectrum.
Actively managed funds were also not found to have better odds of higher returns than more passive funds.