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.
Clareville made its first foray outside the United Kingdom when it opened a Mumbai office this year. It has $800 million of assets under management (AUM) globally and its well known funds include the Pegasus Fund and the Temple Fund.
Clareville founder and managing director David Yarron says "Krish's extensive experience and contacts will be vitally important in the start-up of our Asian operation, and his record as a talented investment manager speaks for itself."
Yarron had earlier announced that the India fund, which is open-ended, would target investments of $250 million in Indian equities and companies with significant India exposure over the next few years. Clareville has already invested in London-listed Vedanta Resources. At the time of launching the India business Yarron had said that of the Brazil, Russia, India and China (BRICs) economies he favours India due to it being a ôfriendly country with a massive intellectual resourceö.
Shanbhag moved to HSBC Asset Management at the end of 2002. He was part of the eight-member team at HSBC and one of three people managing equities. Shanbhag was fund manager of the HSBC Midcap Equity Fund since it was launched in mid 2005. Before HSBC, Shanbhag worked with ING Mutual Fund.
In March 2006 Clareville completed a process started early this year of bringing new shareholders on board and reconstituting its board. Among the high profile new board members are Eddie Jordan (who sold the Jordan Formula One racing team in 2005 after a 15-year involvement), Jonathan Marland, a founding director of Jardine Lloyd Thompson and others.
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.