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.
The fundÆs NAV has risen 21.2% since establishment, and in the first three months of 2008, it has returned 3%. Target volatility is 10% but so far the fund has generally averaged around 8%.
Jadeite operates with maximum gross positions of 300%, with net exposure of minus 20% to plus 80%, but more recently has been between minus 20% and plus 60% net long.
The fundÆs strategy is to establish long-term positions in early- and mid-stage franchise growth enterprises and then take positions in undervalued growth companies relative to their future prospects, profitability and cash generating capability. Jones will be shorting or avoiding market-favourites and mature growth companies.
Paul SmithÆs alternatives venture, Alternative Asset Partners, has helped seed the fund with a $25 million investment and assets under management are now $27 million. Target size of the fund is $1 billion.
The fundÆs prime broker and administrator is Goldman Sachs. The auditor is Ernst & Young. Legal Advisors are Maples & Calder and Alston & Bird.
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.
The “lower for longer” monetary policy and stimulus packages, coupled with the rolling out of vaccine programmes favorably support real estate investing in the region, with offices and data centres presenting forward-looking opportunities.
As US fixed income default rates rose and yields fell during the pandemic, are Asian bonds, which have had more stable yields through 2020, looking more attractive?
Insto roundup: Norway's Oil Fund praises China governance efforts; NPS commits $100m to taxi-hailing app
Norway's Oil Fund welcome Chinese proposals improving transparency and shareholder protection; HK's MPF assets surge 35% year on year; Korea's NPS commits $100m to TPG consortium to invest in taxi-hailing app; Poba commits W270bn to European property; Malaysia's EPF sees investment income rise 59% year-on-year in first quarter, and more.