The largest retirement funds in the Netherlands and South Korea have formed a landmark partnership to focus on real asset mega-deals. Their investment heads tell AsianInvestor why.
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.
Amid global growth in fixed income ETFs, RMB bond index funds have shown rapid growth in the past three years. By the end of June 2020, there were 133 domestic bond index funds with a total value of ¥455.5 bn in China - 23 times greater than in 2018 - and 27 overseas-listed RMB bond ETFs with a total value of ¥53.6 bn, 99% of which comprised Chinese government bonds and policy bank bond ETFs.
Korea's sovereign wealth fund is working to balance out risk factors in its portfolio and taking a flexible approach in ESG investments, it revealed in a webinar hosted by AsianInvestor.
Regional investors were more bullish than their global counterparts in October, although they remain overall cautious, according to the State Street Investor Confidence index.
Bank of China's Hong Kong life insurance business has made an internal promotion to succeed Jennifer Kwan.