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.
The company, which received approval from the Securities and Exchange Board of India (SEBI) to start mutual fund operations in December 2007, is a wholly owned subsidiary of KoreaÆs Mirae Asset Financial Group. It also has an equity fund, the Mirae Asset India Opportunities Fund, which has yet to close.
Prior to setting up its Indian subsidiary, KoreaÆs Mirae Asset has been present in India as a foreign institutional investor since 2005 with investments worth over $3.5 billion through India-dedicated offshore funds. Globally, Mirae Asset Financial Group manages more than $132 billion in assets.
Both fixed income funds have been assigned a credit risk rating of mfA1+ by Indian rating agency ICRA, which is the highest-credit-quality short-term rating for debt funds. The investment objective of both the funds is to generate returns with low volatility and higher liquidity through a portfolio of debt and money market instruments.
The Mirae Asset Liquid Fund is an open-end liquid scheme that invests up to 100% in money market instruments and in debt instruments whose residual maturity and re-pricing tenor will not exceed one year.
The Mirae Asset Liquid Plus Fund is an open-ended debt scheme that invests 50%-100% in money market and debt instruments with residual maturity and repricing tenor not exceeding one year and 0%-50% in debt instruments with residual maturity and repricing tenor exceeding one year.
Regional institutions’ investment managers outperformed their external peers, underlining that they are just as vital as modern asset allocation strategies.
AsianInvestor describes why we chose the top funds across a series of key asset classes.
The RM82.64 billion ($20.6 billion) Malaysian Hajj fund, which recently completed a restructure, is looking to diversify globally but remains cautious of risky assets.
Mega players Nippon Life and Dai-ichi Life are looking for opportunities in higher-yield single-A US corporate bonds, which offer more appealing yields than stagnant domestic offerings.