Asset owner news roundup, Aug 7

The fund industry’s latest mega-takeover has big implications for the two firms and for their clients in Asia. AsianInvestor looks at issues that the deal raises.

Future Fund's head of private property departs; HSBC global cuts to affect Asia; FTSE Russell names first Asia sustainable investment chief; Savills appoints Malaysia head of asset management; BNP Paribas AM's EM debt head exits; SingAlliance poaches from BNP Paribas; and more.

Former M&G exec starts as CEO of new PE firm; SSGA names Apac head of ETF sales; Axa IM makes investment and sales hires; JLL adds Japan hotels team head; Intertrust opens NZ office; Bank of Singapore appoints North Asia wealth planning head; and more.

A surprise doubling of the overseas allocation limit to 30% and lifting of the ban on private equity investment are welcome changes for increasingly yield-starved Thai insurance firms.

But while Morningstar sees the bond house as the "strength" of Franklin Templeton's takeover of Legg Mason, the merged firm may be vulnerable to competition from index fund managers.