Contents

Click here for Sept 2012


12 Asset Owners
Stormy skies for insurers
Low interest rates and yields are pushing Asia-based insurers into alternative and international assets

16 Q&A with Lee Dong-ik, CIO of Korea Investment Corporation
18 Wanted: Investment expertise in Korea
20 EM indigestion for UK pension funds
24 News: CIC, Temasek post losses; NCSSF mandates


26 Distributors
Headwinds in Hong Kong for ILPs
Supply and demand for RMB denominated ILPs in Hong Kong needs to improve

28 Rebuilding Asia’s active equity funds industry
33 News: Julius Baer’s tie-up with Merrill; turnover at Coutts

58 Fund Managers
ETFs turning to retail
Retail flows into Asian ETFs could grow, but institutional money remains hard to lure from US listings

40 Korea goes ETF-crazy
44 China’s big ETF win
48 Stuck: global equity fund managers
52 Restoring faith in stocks in China
56 News: Legal & General IM opens in Asia; Dai-ichi Life ties with Janus Capital

34 Alternative Investments
Keeping it real
Asian institutions are fast buying into global property

64 Asian distressed PE managers’ journey to the West
68 Q&A with Richard Foyston of Navis Capital Partners
70 News

72 Asset Services
Securities lenders rethink collateral
Asset owners review how they put collateral to work

76 Operations manager: Frederick Laydon, Principal Global Investors
77 Fund dealers indicate an interest in rating brokers’abuse of IoIs
78 News: BOCI, RBS get into prime broking; Mercer adds Asia PE team

04 This Month
On the move
AMP builds equity team in HK; GIC names new MDs; Western restructures team

08 Regulatory Roundup Lower trading costs and fees charged of brokers in China; Hong Kong enacts bans over reporting and insider trading
10 Data Centre Ucits remain healthy, while locally domiciled funds see bond inflows

80 Events
Korean investors expand abroad
Pension funds, insurers and government funds in Korea are fast adding international exposures.

82 Russia seeks Asian capital
84 Bookend Breakout Nations: In Pursuit of the Next Economic Miracles, By Ruchir Sharma