MAS names sustainability head; Malaysia’s EPF appoints COO and CFO; GIC PE head for SEA leaves; State Super hires new exec; Hesta appoints chief growth officer, chief Debby Blakey appointed to corporate governance board; ex-BlackRock exec joins IQ-EQ in Singapore; HSBC AM builds direct real estate team; ex-Vanguard head of distribution joins LGIM; Sanne names Singapore head; and more
Raymond Kong previously spent 13 years with mutual fund company American Century, the retail arm of Capital Management. From 1998 to 2001, he set up American CenturyÆs fund management and trading operation in Singapore. After that, back in New York, he held the post of global portfolio manager of emerging-market trading.
Stretto PantherÆs target returns are 15-20% on volatility in the low teens. Stretto will be targeting institutional investors. There will be no lock-ups, though there is a 1% fee if redemptions are made within the first year. Fees are 2% and 20% for annual management and performance, respectively.
Leverage of the fund will be maximum of 200% and net exposure is expected to be between -10% and +80%.
Morgan Stanley has been appointed prime broker and Citigroup as fund administrator, while Ernst & Young is the auditor and Deacons the law firm.
Stretto is a musical term calling for a temporary acceleration in tempo; a quick-fingering phrase that stuck in Raymond KongÆs mind during an earlier spell when he worked as a concert pianist. He trusts that the new fund earnings will also show a similar dose of accelerando, hopefully in preference to adagio.
Kwap property arm appoints CEO; VFMC names new CEO as Lisa Gray retires; MSIG Singapore promotes Mack Eng as CEO; Monroe Capital opens first Asia office in Seoul, hires head from Aberdeen; Vanguard Australia appoints new MD to relocate from US; HSBC AM expands EM debt team; Vantage FX hires from CGS-CIMB in Singapore; and more.
Financials and healthcare have been spotted as promising sectors, while several tech IPOs are on the way, including a $2.2 billion fintech firm and a GIC-backed e-commerce startup.
A strong recovery in the Asia Pacific private capital markets in 2021 sets up favourable hiring and compensation trends.
The $95 billion Korean savings will set up a separately managed account for real estate debt investment early next year in order to shorten decision-making and help it win deals in a crowded market.