Asia continues to lag other regions for integrating ESG principles with investing; better data and stronger regulatory requirements will help institutional investors, market observers say.
The deal, which remains subject to the regulators nod, is priced at $226 million in cash and Sparx shares.
The joint plan sees PMA retaining its alternatives focus with its current business operations. All of its managers will stay on board, spearheaded by its chief executive officer Farhat Malik. Some of the PMA top managers will become major shareholders within Sparx.
Sparx Asset Management was founded in 1989 by Shuhei Abe. It explores a range of approaches to the markets, from opportunistic long/short strategies, to a longer term fundamental approach. Among its alternatives products, it operates both a global and Asia Pacific funds-of-funds.
Some industry sources regard PMA to be the biggest and best home-grown hedge fund/alternative investment manager. It was established in 2002 with offices in Hong Kong, Dubai and London.
Korea Teachers' Credit Union appoints new CIO; AIA Singapore hired ESG head from UOB; Ping An confirms appointment of Benjamin Deng as CIO; Australian Unity hires first head of responsible investment; AMP has new head of portfolio management for multi-assets, Robeco hires Asia fixed income head; Haitong makes three new appointments for institutional clients business; and more.
After two tenures, AsianInvestor's 2021 Standout CIO Jang Dong-hun looks back on the past six years at Korea's Poba with satisfaction.
Risks including property downturn and ongoing pandemic make for difficult investment decisions.
As a pioneer in the Australian super space, CSC continues to focus on core objectives while taking calculated risks in an uncertain macro-economic environment.