Asia Pacific's family offices are a nimble bunch and never more so than when it comes to ESG where they're already proving to be ahead of the regulators.
ôIt's more akin to an investment banking set up,ö says Leahy. ôYou have senior people marketing and liaising with clients developing business and with a line of responsibility on delivery within the investigations themselves.ö
As the return of capital markets interest in Southeast Asia leads to more investigation business, he will also be hiring more staff in Singapore.
When referencing hedge fund managers, Kroll may be asked by potential investors not only about reputational issues but also, for example, how a fund went about achieving a spectacular return.
In Asia the main reputational stains on the alternatives industry in recent years are the collapse of SingaporeÆs Aman Capital Global Fund because of derivatives trading in Korea composite stock price index, and the four and a half year jail sentence for Charles Schmitt of HK CSA Absolute Return Fund for channeling $190 million into his personal accounts.
Mindful that in Southeast Asia it is hard for businessmen to prosper unless they play along with government and bureaucrats, Leahy says that in Asia, they have to æcontextualiseÆ their findings.
ôIt is difficult to be a businessman in Indonesia without political connections. You have to understand the context of the place,ö says KrollÆs Chris Leahy.
When doing a due diligence project in a private equity target, as well as checking out the principal individuals, Kroll will look into accounting systems and processes, for example, laxness in approval processes with payments, and will screen staff for their relationships with vendors.
How much all this costs is difficult to establish on an æoff-the-cuffÆ quote basis. ôIt might equate in the final analysis to Decimal points of the value at riskö, says Leahy. ôWe have a reputation for being expensive, and its not true,ö adds Jack Clode, KrollÆs managing director in Hong Kong.
Japan’s new Prime Minister Fumio Kishida is said to be mulling economic policies that could include moving the country away from Abenomics. Investors will be watching closely for any changes with implications for them.
Only 11% of Asia asset owners’ portfolios have been invested in environmental, social and governance assets or ESG-related strategies, says a new report.
Contrary to traditional perceptions, share pledge financing can offer high returns for investors. Borrowers using their shares as collateral for loans understand and value the equity.
Manulife appoints new COO; the head of investment stewardship at VFMC departs; June Wong joins Value Partners as president; State Street appoints head of Singapore and Southeast Asia, and head of Australia; BlackRock COO joins UBS AM as Australia and New Zealand country head; Pictet veteran named as Asia CIO; Nomura AM Malaysia head to step down; and more