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
He moves from Deutsche Bank where he covered Hong Kong and Chinese investment companies plus Hong Kong property developers. Previously he covered real-estate companies at Morgan Stanley. In this new role, he will be evaluating the listed equities of Asia PacificÆs real-estate companies.
Wong will report to Steve Burton, managing director of ING Clarion Real Estate Securities, who is based in Philadelphia.
ING Clarion is the real-estate equity management arm of ING real estate, which has total assets under management of $102 billion. The listed real-estate equities portfolio of ING Clarion accounts for a 15% portion of this aggregate sum.
ING Real Estate operates with a far broader scope of property investment activities. In late December an announcement was made that it had raised $350 million in its China Opportunity Fund, which will be aimed at the other end of the property investment spectrum far from the world of listed equities on which ING Clarion focuses. This fund will be invested in opportunistic and property development /building projects, especially midrange local housing developments in first and second-tier Chinese cities.
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.
The fund's 29.6% returns marked its best ever and exceeded its reference portfolio, which has 80% allocated to equities, by 1.73%.