The Dutch pension asset manager's Asia Pacific head of real estate says his team has just had one of its busiest years ever and that 2021 is looking similarly promising.
Hsu, who is currently staying in Tokyo, says he plans to continue working in Hong Kong and will disclose his future work plans soon. Due to the terms of his employeeÆs confidentiality agreement, he was not able to explain his departure from Citadel.
Citadel itself did not offer any comment on the staff departures, but it is understood that no replacements for the two exiting men have yet been announced.
In a separate, unrelated move, Feng Hsiung, the head of CitadelÆs Asian risk arbitrage business, has also left the company. He is believed to be joining a rival hedge fund, York Capital. York CapitalÆs headquarters in New York declined to confirm these rumours.
Citadel was founded by Kenneth Griffin in 1990 and now has assets under management of approximately $13 billion. It was recently revealed that CitadelÆs earnings for the first eight months of 2006 at its two largest funds increased fivefold. This was attributed to gains from debt and energy investments, including a boost to profits from the takeover of the portfolio of energy trades from the collapsed hedge fund Amaranth.
Mega players Nippon Life and Dai-ichi Life are looking for opportunities in higher-yield single-A US corporate bonds, which offer more appealing yields than stagnant domestic offerings.
The “lower for longer” monetary policy and stimulus packages, coupled with the rolling out of vaccine programmes favorably support real estate investing in the region, with offices and data centres presenting forward-looking opportunities.
As US fixed income default rates rose and yields fell during the pandemic, are Asian bonds, which have had more stable yields through 2020, looking more attractive?
Insto roundup: Norway's Oil Fund praises China governance efforts; NPS commits $100m to taxi-hailing app
Norway's Oil Fund welcome Chinese proposals improving transparency and shareholder protection; HK's MPF assets surge 35% year on year; Korea's NPS commits $100m to TPG consortium to invest in taxi-hailing app; Poba commits W270bn to European property; Malaysia's EPF sees investment income rise 59% year-on-year in first quarter, and more.