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.
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.
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.