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
Gottex reacted after experiencing a surge of redemptions during the current quarter when assets under management dropped is $13.5 billion compared to $15.6 billion at June 30.
The firmÆs funds û GVA ABL Portfolio and Gottex ABI Fund û have been affected by charges of fraud at US-based Petters Group. The former fund is being unwound and the latter is also subject to a suspension of redemptions. Gottex has clarified that while it did not invest in Petters Group, it invested in independent hedge funds that provided finance to Petters transactions, and furthermore, Gottex is not linked to any FBI investigation.
Gottex has an office in Hong Kong, but employees at that office declined to comment.
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.