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
Ng started his career in trading at Jardine Fleming in 1998 working with the current CEO of EIP, Tobias Bland. In 2001, he joined Dresdner Bank and then JPMorgan.
Bland established EIP in 2002 and invited Ng to join for his first stint at the firm, where he stayed for four years before leaving for BNP to run a new proprietary book.
The plan is now to use NgÆs experience in proprietary trading to grow EIPÆs Overlay Fund. EIP currently has two products û long-only investors buy an exchange traded fund. That ETF has a captive stock lending arrangement with EIPÆs market neutral hedge fund. The latter gives 25% of its positive performance back to the index funds in return for a captive borrowing ability from the shares in the fund, giving them access to shorting opportunities which would otherwise be very hard, expensive or impossible to source. This market neutral arbitrage fund is highly uncorrelated to the market, at around 0.17. The EIP Overlay Fund has eight strategy buckets including delta arbitrage, stat arbitrage, stub trading, relative value, and share class arbitrage.
The size of the fund is approximately $300 million. In the first six months of 2008 it is up 10.19%.
Kwap property arm appoints CEO; VFMC names new CEO as Lisa Gray retires; MSIG Singapore promotes Mack Eng as CEO; Monroe Capital opens first Asia office in Seoul, hires head from Aberdeen; Vanguard Australia appoints new MD to relocate from US; HSBC AM expands EM debt team; Vantage FX hires from CGS-CIMB in Singapore; and more.
Financials and healthcare have been spotted as promising sectors, while several tech IPOs are on the way, including a $2.2 billion fintech firm and a GIC-backed e-commerce startup.
A strong recovery in the Asia Pacific private capital markets in 2021 sets up favourable hiring and compensation trends.
The $95 billion Korean savings will set up a separately managed account for real estate debt investment early next year in order to shorten decision-making and help it win deals in a crowded market.