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
She joins from Lion Capital Management in Singapore, a subsidiary of OCBC, where she was an associate director with the Asian equity team. She managed Asian mandates and was portfolio manager for the Korean and Taiwan funds. These were long-only funds for unit trusts offered to retail investors. Before then she worked at GE Life Assurance Company and SMRT, where she covered Asian equity markets.
ôKorea has been neglected,ö says Lim. ôIt has been a laggard and offers opportunities for the event-driven side. The Lone Star situation did present some concerns, but the Korean government has continued with its programme of liberalisation.ö
This hire presages a greater involvement by FCM in Korean and Taiwanese markets.
Michael Lien, a former head of corporate finance at Morgan Stanley in Singapore, says, ôWe like the unfashionable markets, Taiwan and Korea, from a bottom-up perspective. Corporate balance sheets have been rebuilt. Our shortlists in those countries are growing.ö
In Korea FCM says it sees opportunities with KamcoÆs divestments of its investment interests. These companies are often already quoted, with Kamco holding majority stakes, which they are now in the course of selling. FCM sees competition to buy back these stakes from the next generation of the former owning families.
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.