Private credit might be less attractive than it was last year as investors rush into the market, but there are sweet spots to be found.
Ieong will report to Omar Cordes, managing director and head of distribution for Asia-Pacific. Cordes himself joined the firm in September from CQS, a hedge fund based in London, while Tony Iliya, who previously ran Credit SuisseÆs fixed-income team in Asia, was named vice chairman.
The China distribution role is a newly created one and involves strategic planning, sales distribution and client servicing, for both institutional and retail clients.
Cordes says the role will initially emphasise the institutional side but will grow into retail. Ieong will work closely with the firmÆs funds joint venture with ICBC. ôThe JV is an important partner and an important client,ö Cordes says.
Ieong previously worked at JF Asset Management, where he headed the institutional business for China. He had worked for Desmond Ng, who has also recently departed JF to run regional institutional business development at Invesco. Ieong has also served as head of business and market development at State Street in Hong Kong.
Regulators keep their eyes open on tightening insurance industry by introducing more detailed risk management requirements, which could bring pressure on smaller players.
China and India are more obvious choices for AustralianSuper to consider in Asia Pacific, but the super fund currently lacks the expertise and prefers to stick to the US and Europe.
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