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
A former COO at the investment management business says the model was not profitable for Alliance, which had been planning to exit the venture for quite some time. Alliance will, however, hold onto its distribution portion, which is run separately from the Far Eastern venture, given that the brand is now one of the strongest in offshore investments on the island.
Following the formal acquisition, the fund venture will be renamed Deutsche Far Eastern Asset Management. It will be jointly owned by Deutsche Bank and the Far Eastern Bank, a subsidiary of TaiwanÆs Far Eastern Group û a conglomerate with business interests ranging from cement, hotel, construction to petrochemicals and an airline that has recently filed for bankruptcy protection.
Rex Chou, a former senior vice-president at Schroders Securities Investment Consulting in Taiwan, has been appointed as CEO of the new fund venture. Prior to Schroders, Chou held business development and sales roles at HSBC Asset Management and Fidelity in Taiwan.
Apart from building up a retail presence, Chou will be targeting outsourcing opportunities from the islandÆs $182.87 billion in assets of public funds and insurance conglomerates.
"There is considerable potential working with our partners to offer further choice and new investment opportunities for Taiwanese investors. This will include supporting the introduction of further innovative global funds and alternative investments through Deutsche Bank's market-leading asset management brands û DWS Investments and RREEF Alternative Investments," Chou says.
ôThe business aims to leverage the global investment and business management expertise and innovation of Deutsche Bank's asset management division as well as building on the well-established local platform and professionals of Far Eastern Group,ö he adds.
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
EISS Super hit by another scandal; China's CSRC launches consultation on disclosure requirements for new BSE securities; Hong Kong issues consultation paper on Spacs; New World Development partners with China Taiping to focus on Greater Bay Area projects; GPIF employees say Japanese Reits have grown more attractive; Taiwan's BLF invites bid for $1.7 billion mandate; and more
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.