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.
He will run the regional effort for the sovereigns-and-supranationals business unit that was first assembled in April under the leadership of Cynthia Sweeney Barnes, London-based global head. He also reports locally to Au King-lun, director and head of institutional business.
Au explains HSBC as a group has always worked for clients such as central banks and supranational organisations, but the new unit is meant to give this work strategic focus. It will involve coordinating not only with various parts of HSBC Investments, but also the relationships developed by the bank.
ôThis will allow us to provide services ranging from treasury to wealth management for central banks and other major investment groups,ö says Shum. His team will be able to sell products and ideas not just from HSBC Investments, but also the bankÆs treasury desk and from affiliated specialist managers such as HSBC Halbis Partners (active fund management and hedge funds) and Sinopia Asset Management (structured products). These businesses manage a combined $347 billion worldwide.
HSBC now joins a growing number of fund managers building teams dedicated to the fast-growing and enormous sovereign wealth funds, following the likes of Goldman Sachs Asset Management, JPMorgan Asset Management, Morgan Stanley Investment Management and independent fund houses such as Schroder Investment Management.
Shum is on the lookout for people to join his team in areas such as client service and relationship management. One driver to setting up a dedicated team for these clients is the commitment to training that is required.
Sweeney Barnes is handling Europe and the Mena (Middle East and North Africa) region, while the firm is still looking for ShumÆs counterpart for the Americas.
Shum joined Franklin Templeton in the summer of 2004 and rose to become managing director of its institutional business in the region. Prior to that he was an investment consultant at Mercer, first in Toronto and then in Hong Kong, where he became the senior consultant.
Record low borrowing costs in Australia are feeding demand for the country's real estate, with domestic and global investors raising their allocations into the sector.
Experts have a diversified view on the appeal of private assets across the region, but one thing's for certain - inflows are rising, particularly into China and the US.
Malaysia's Armed Forces Fund hires new CEO; Canada's Omers appoints Asia capital markets managing director; HSBC Asset Management creates alternatives unit, appoints CIO as its head; Bank of Singapore names global wealth head; Aware Super hires IFA head; Hong Kong names acting head for MPFA; Schroders adding to Asia ESG headcount; and more.
Asian fixed income assets – including Hong Kong dollar (HKD) bonds – are luring growing numbers of global investors who are striving for reliable and consistent returns amid macro uncertainty compounded by rising inflation and rates, according to HSBC Asset Management.