The Dutch pension asset manager's Asia Pacific head of real estate says his team has just had one of its busiest years ever and that 2021 is looking similarly promising.
As one of the best known prime brokers in Asia, he led the build-up of Morgan Stanley's prime broking unit over many years and is widely respected in the industry for his insights into the alternatives and hedge fund world.
During Baker's tenure, Morgan Stanley was a prime broking market leader in Asia and his team won AsianInvestor's award for 'Best Prime Broker' in 2004, 2006, and 2007.
Following the market uncertainties after the collapse of rival prime broker Lehman Brothers, hedge funds became jittery about having their assets with a securities company. In the following days, especially before Morgan Stanley's position was perceived to be stabilised by the news that it had converted into a bank holding company, it was rumoured that a substantial amount of hedge fund balances had migrated from Morgan Stanley to other prime brokers.
Along with nearly all firms on the street, Morgan Stanley is undergoing a personnel retrenchment process, one that is not limited to prime broking, and that will now continue to move down from managing directors through the other ranks. Prime broking, while it will endure as a hedge fund service, is going through a metamorphosis at present, and its entire product range, staffing requirements and general scope is under the microscope.
There is definite proof that sustainability-focused funds are outperforming their conventional counterparts. But some experts believe the traditional explanations for this are wrong.
As Covid restrictions continue to put the bite on travel, Australia's superannuation funds are seeing mileage in spending big on communications and digital infrastructure.
Sunsuper and QSuper appoints CIO for combined entity; State Street appoints heads of HK and Taiwan; Nothern Trust rebuilds Apac team; Manulife IM names emerging markets fixed income CIO; RBC Wealth Management hires four into HK; Lombard Odier hires two senior equity managers; Allianz Global Investors appoints Asia hand as equity CIO; and more.
Investors from China and the US are expected to continue buying assets in each other’s markets despite the blacklist of Chinese firms with military and surveillance ties.