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
Hong Kong-based Kim was a member of the fund's portfolio management team since May 2007. Chan, who is also based in Hong Kong, remains the CIO of RCM Asia-Pacific and continues to oversee portfolio management for all equity portfolios.
Kim joined RCM Asia-Pacific in May 2007 as a portfolio manager for Korean equity portfolios. He has over 10 years of experience in researching and analysing companies in South Korea.
The Korea Fund is a non-diversified, closed-end investment company. It seeks long-term capital appreciation through investing primarily in equity securities trading on the Korean stock exchanges. As of July, the fund has $541 million in assets. Its top 10 holdings are Samsung Electronics, Posco, KT& Corporation, Shinhan Financial, Daewoo International, KT Corporation, Dongkuk Steel Mill, Hyundai Engineering and Construction, Samsung C&T, and Hynix Semiconductors.
The decision to hand over the Korea FundÆs management to Kim comes after RCM in Hong Kong obtained a discretionary investment-management business license in South Korea in February this year. That license allows RCM to directly market its global suite of investment products to local institutional investors.
RCM Capital Management and RCM Asia-Pacific are the fund's investment manager and sub-adviser, respectively. RCM Capital Management is a wholly-owned subsidiary of Allianz Global Investors.
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.