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According to the MFMCP, the new fund will comprise of publicly listed Philippine equities and follows expectations by Aizawa Securities that the Philippines will outperform other Southeast Asian markets over the next three years.
The fund will aim to raise between $30 and $50 million in the Japanese retail space over the next two months and comes at a time when the Philippines macroeconomic numbers are in their best shape for years. It will be distributed throughout Aizawa SecuritiesÆ 40 branches in the Tokyo and Osaka areas.
The launch follows a rather aggressive strategy by Aizawa Securities in investing in Asian emerging market economies. Prior to the launch of its Philippines fund, the firm has launched an array of funds to Japanese retail investors with China, Thailand and Vietnam themes.
Most recently, Aizawa Securities teamed up with Philip Securities to launch the Philip-Aizawa Trust Thai Fund in January. Prior to this launch, the Japanese brokerage set up the Phiem-Aizawa Trust Vietnam Fund with Singapore-based Phiem Asset Management.
The new fund will be the fourth fund administered by the MFMCP. In the Philippines, the subsidiary of ATR Kim Eng Group manages three additional funds for local investors, the Kabuhayan Fund, the ATR KimEng Equity Opportunity Fund, and the ATR KimEng Fixed Income Fund.
Investors still favour private equity assets for their higher growth, better governance structures, and diversification potential.
The recent focus on greenwashing has put bond issues under greater scrutiny. However, some market participants believe this risks paralysis by analysis.
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.