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.
Fortis PFS has been going through a transition period. Last year, Gordon Shaw assumed interim responsibility for the Asia business, as London-based managing director, after the local executive, Tim Mann, had departed last October for Mourant. Joanne Murphy, who had been handling new business development, also left the firm in February; the firm's Tokyo head, Andrew Mascall-Robson, also departed last summer for JPMorgan.
Now Ngan will take over responsibility from Shaw for Fortis PFS offices in Hong Kong, Singapore and Tokyo, with a mandate to expand current service levels and product range for existing clients, and introduce Fortis PFS services to new markets. She will leverage the experience of Stewart Bent, who has been running business development for the firm in Asia for about two years, having joined from HSBC Alternative Fund Services.
The firm is among AsiaÆs top-three hedge-fund service providers with $28 billion of assets under administration.
Ngan arrives at a time of flux for Fortis Group in Asia. Fortis Investments is in the midst of integrating the asset-management and private-banking operations of ABN Amro, while it has in turn sold 50% of its equity to Ping An Life Insurance. These deals do not directly involve Fortis PFS.
For Ngan, the move is unconventional, given her executive background in funds management. She has just left Principal Global Investors as COO for Greater China, running the firmÆs retirement and investment operation in Hong Kong and a mutual-funds joint venture with China Construction Bank in Beijing. Principal execs declined to comment on her replacement.
Before that, she had been CEO of the Hong Kong and Singapore offices for Invesco, reporting to Asia-Pacific CEO Andrew Lo, in a role that covered Southeast Asia, Taiwan, Korea and the Middle East.
Regional institutions’ internal investment managers outperformed their external peers, underlining that they are just as vital as modern asset allocation strategies.
AsianInvestor describes why we chose the top funds across a series of key asset classes.
The RM82.64 billion ($20.6 billion) Malaysian Hajj fund, which recently completed a restructure, is looking to diversify globally but remains cautious of risky assets.
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.