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
Jin Yingzi, deputy director-general of the general office in Beijing, accepted the award on behalf of the organisation and its chairman, Xiang Huaicheng.
Jame DiBiasio, AsianInvestor magazine's editor, presented the award, citing the SSF's professional approach to investing the fund's assets. The $26 billion SSF has been established as China's fund of last resort for social security. Although many aspects of its mandate have not been determined - such as at what point the government will allow drawdowns, what measures can be used to finance it, and whether the SSF will assume responsibility for provincial asset pools - it has pursued a prudent, consultant-driven processs to diversifying its assets.
In November, the SSF made its first mandates to global fund managers. Terms were not disclosed but it is believed to have issued 12 mandates for around $1 billion in currency, global fixed income, US equities, global ex-USA equities and Hong Kong equities.
This was the first such set of mandates to emerge from China. The SSF has also pioneered domestic discretionary mandates for local fund houses, as well as private equity, with a stake in Bank of Communications, among others.
AsianInvestor also cited the SSF's work in improving fund governance and in promoting good corporate governance among listed companies in which it holds stakes.
This is the fourth year AsianInvestor named an Institutional Investor of the Year. The Hong Kong Jockey Club won the first award in 2004, followed by South Korea's National Pension Corporation and Taiwan's Shinkong Life Insurance.
Over 300 people attended the awards dinner on Friday, which was held at the Conrad Hotel.
The AU$85 billion ($61.6 billion) Australian super fund has some exposure to indebted property developer Evergrande. Meanwhile, China’s construction finance is part of its core strategy in real estate.
Investors are seeing the risks, but also the opportunities of the logistics sector. Warehousing their fears for the moment, they can see it's a good conduit to high-growth assets.
Insto roundup: GPIF staff say J-Reits more attractive than traditional assets; Hong Kong's strict Spac criteria
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SGX’s new framework for Spacs will likely provide investors with a much-needed channel for direct deals, but the verdict is still out on whether it will bring liquidity to the bourse.