In new statements on the extent of greenwashing in the fund management industry, Desiree Fixler highlights some uncomfortable truths about sustainable investing.
Bagga, who started at Deutsche on Wednesday, left Lotus late last year after the money manager was sold to India's Religare Enterprises, part of the Ranbaxy group. He has more than 20 years of experience in financial services. Bagga started his career at Citi and moved into the funds management industry with Pioneer. Before he joined Lotus he was CEO of Kotak Mahindra AMC.
Bagga replaces Nikhil Kapadia who is moving to Singapore where he will be chief operating officer and in charge of business development for Deutsche Bank's private wealth management onshore businesses in Asia. Deutsche Bank officials say Kapadia did such a good job building the onshore business in India, they want to see him replicate the effort in other countries throughout the region.
Deutsche Bank has onshore private banking businesses in nine Asian countries and 15 businesses overall.
Asia, in general, and India specifically, is a key market for private banking businesses. The assets of high-net-worth individuals (HNWIs) in Asia-Pacific are forecast to grow at an annual rate of 7.9% to reach $13.9 trillion by 2012, according to a Merrill Lynch and Capgemini report. The number of HNWIs in India rose 22.7% to 123,000 in 2007, which was the fastest pace of growth in the world.
Merrill Lynch defines HNWIs as those with net assets of at least $1 million (excluding primary residences and consumables).
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Investors are increasingly turning to private companies and private debt in their hunt for ESG alpha, but the age-old problem of transparency and due diligence remains
Already on the rise pre-Covid, investments into data centre assets in Asia have accelerated in the past year, fuelled by interest from investors across the spectrum.
Actively managed funds were also not found to have better odds of higher returns than more passive funds.