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.
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.
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.
The Federal Reserve is now expected to hike interest rates as early as March and fed funds markets are pricing in up to four hikes in 2022.
The stock’s promising performance stands in sharp contrast to the less fortunate fates of other Chinese companies that have been affected by government clampdowns.