There is definite proof that sustainability-focused funds are outperforming their conventional counterparts. But some experts believe the traditional explanations for this are wrong.
The move is KhannaÆs third in less then 12 months, a reflection more then anything of how hot job markets in investment banking in the country currently are. In November, 2005 Khanna resigned as country head and managing director of NM Rothschild (a position he had held since 2002) to take on the role of head of investment banking at Enam Financial Consultants. Khanna announced his resignation from Enam in June. Speculation has been rife that he was interviewing with Lehman Brothers, Credit Suisse and Merrill Lynch as all three are currently on a hiring spree in India. When contacted Khanna confirmed the move.
Chandra took over as sole head of investment banking at DSP Merrill Lynch when Rajeev Gupta left the firm in June 2005 to head CarlyleÆs private equity business in the country. Chandra is a career Merrill banker and is widely perceived as having established very strong relationships in the country which have stood Merrill Lynch in good stead in becoming one of IndiaÆs leading investment banking players. In December, 2005 Merrill Lynch reiterated its commitment to investment banking in India by increasing its 40 percent ownership interest in DSP Merrill Lynch to 90% with the stated intent "to continue to build its important presence as one of the leading securities firms in India".
A banker we spoke to speculated that ChandraÆs being moved out of this role - which he is reckoned to have performed very well - could signal that Merrill is keen to increase its principal investing in the country and now wants Chandra to lead this charge and replicate his earlier success. If this is the case Merrill will be following Goldman Sachs lead, which has already announced its intention to commit $1 billion to principal investing in India.
AsianInvestor reveals the first half of our marquee winners for this year's Asset Management awards, including best asset service provider and top alternative fund houses.
The number of millionaires in mainland China grew by 35% in 2020, while the number of millionaires in Hong Kong fell by 7%, according to a new report from the private bank.
The Australian pension fund joins other asset owners in eyeing private credit opportunities in the Asia-Pacific region, although liquid defensive assets retain a majority of allocations.
Alternatives news roundup: Asia Pacific's alternatives market to hit $6tr by 2025; Indonesia's SWF to buy troubled toll roads
Asia Pacific alternatives market to grow to $6tr by 2025; Australian private capital assets rose to A$77 billion in mid-2020; Chinese authorities limit cash management products holding riskier securities; Indonesia's sovereign wealth fund to acquire several toll roads; Korean institutional investors support scheme to buy US asset-backed securities; and more.