REGULARS

Contents

4 Up front
KIC using ‘active’ index strategies; Hospital Authority awards a CNH mandate; NCSSF’s new offshore RFPs

11 Up front: on the move
Rajeev De Mello goes to Schroders; June Wong joins Threadneedle; Singapore’s CPF poaches from Citi

12 Operations manager
Brook Taylor, VinaCapital

14 Regulatory roundup
Korea’s new hedge-fund rules, Hong Kong considers short-position reporting, China may allow credit derivatives

16 Fund flows
Asia fund flows come to a standstill

18 Q&A
Daisuke Hamaguchi, Japan PFA

FEATURES

20 Asia ex-Japan’s $15.6 trillion club
The AsianInvestor 200 ranking of the region’s biggest institutional investors by assets

30 Fund administration survey
How trends in the onshore and offshore funds industries of Korea, Taiwan and Japan shape business for custodians

36 Under starter’s orders
Issuers and distributors of structured products are gaining greater certainty as to what works for Asian investors in a tighter regulatory environment

40 The rise of China’s insurance asset managers
Insurance asset-management companies can now compete head-on with the very fund-management groups that currently manage their equities investments

42 An inflating dispute
Fund managers covering emerging-market equities can’t agree on what inflation means for their portfolios, making this is an important test for active managers

46 Volume drought for Asian equities
Volume and turnover in Asian equities fell off a cliff after the March earthquake in Japan, hurting brokers and the buy-side alike

50 Russia, the unloved Bric
Russian investment opportunities are priced for risk, but perhaps fail to reflect the potential for rewards

52 Multi-managers add tailoring
Customisation is the new watchword among providers of multi-manager investment products

54 Asia’s 25 most influential women in asset management
AsianInvestor hosted the group for a charity luncheon

58 Investment opportunities in Asian fixed income
Highlights from our two-day event on Asian bond markets include discussions on inflation, credit quality and the overall development of the region’s capital markets

ALTERNATIVE INVESTOR

62 Space is the place in Singapore
Prices are soaring in the Lion City for commercial real estate, yet it seems still more investors are joining the fray

66 The good, the bad and the ugly of regulation
Hedge funds and private-equity groups in Asia face an avalanche of new regulation. Here’s what you need to know

70 Alternative Q&A
Chris Seaver, CLSA Capital Partners

72 Alternative roundup
Permal adds academic firepower; Woori Absolute Partners and NewAlpha launch seed fund; Alan Landau’s new fund