Tokio Marine appoints new CEO for Asia region; Ben Rudd made CEO of Prudential Wealth Management; HKEX hires from Prudential; Samsung SRA appoints former KIC infra head as CEO; HSBC Asset Management appoints senior vice president; Morningstar names head of manager research for Europe and Asia; PGIM adds ESG lead for Europe and Asia; Apex Group adds Singapore managing director; and more.
The Korea-focused fund is named after, and will be managed by Kyle Shin, who used to be the head of Kingdon Capital in Korea.
The intention is to soft close the fund at $150 million. The target return is 20% plus per annum with a volatility of less than two-thirds the market volatility.
ôI am especially bullish on companies in the technology sector in Korea because they currently hold a lot of cash on their balance sheets,ö says Shin. ôKorea is the second cheapest country in relation to company valuations in Asia so there is a continuous stream of ideas and possible trades available.ö
Gross exposure is expected to range between 150% and 250%, and net exposure at -20% to +50%. There is a 2% management fee and a 20% performance fee with a high watermark.
The fundÆs lawyers are Simmons & Simmons. Goldman Sachs has been chosen as the prime broker, administrators are to be confirmed.
China Life names Yuan Changqing as acting chairman; Future Super hires operations chief; China Life Franklin Asset Management CIO and deputy CEO leave; Willis Towers Watson has hired Kameswara Natakusumah as head of Indonesia; Prudential hires ex-Apac CEO for Allianz George David Sartorel as a non-executive director; Manulife IM hires into multi-asset solutions team in Asia; PineBridge Investments hires from BNY Mellon IM; and more.
The family office of Alibaba's co-founder likes to do its own hands-on due diligence and favours deals that can make a difference, rather than investments for the sake of ESG.
The Federal Reserve is now expected to hike interest rates as early as March and fed funds markets are pricing in up to four hikes in 2022.
The stock’s promising performance stands in sharp contrast to the less fortunate fates of other Chinese companies that have been affected by government clampdowns.