ESG is no passing fad, as more investors are convinced that alpha can be found in ESG and regulators continue to introduce rules to lift ESG standards.
Heredia joined Morgan Stanley IM in February 2007 as head of sales and marketing for India. He has over 13 years of experience in the Indian asset management industry and, prior to joining Morgan Stanley, he was the head of sales and distribution at HSBC Asset Management in the country.
ôAs we continue to invest across all of Morgan StanleyÆs businesses in India û including institutional sales and trading, research, investment banking, private equity, infrastructure and real estate investing û we remain focused and committed to the build out of our asset management platform,ö says Ramachandran.
In the last 12 months Morgan Stanley Mutual Fund has launched the Morgan Stanley Across Capitalisations Equity (Ace) Fund, opened nine branch offices across India and established relationships with the countryÆs leading distributors. In December 2007, the firm announced the expansion of its India investment team with the appointment of two experienced portfolio managers, Jayesh Gandhi and Navneet Munot.
Morgan Stanley IM also established a private equity presence in India on May 1, headed by Aluri Rao, and announced last month the closing of its $4 billion global infrastructure fund, which is expected to be active in India.
ôWith its high growth trajectory and expanding savings and investment pool, India is a critical growth market for our asset management business in Asia,ö says Blair Pickerell, managing director and head of Morgan Stanley Investment Management for Asia. ôWe remain very positive on the long-term prospects for this market and on IndiaÆs mutual fund industry.ö
Morgan Stanley IM is expected to continue to invest in its platform in India and expand its product offering for domestic and global clients, Pickerell says. The bank, which has been active in the country since 1993, is seeking to develop an integrated platform in India, which encompasses the full range of businesses the firm conducts globally.
Morgan Stanley Mutual Fund describes its investment team model as a ôcommunity of boutiquesö, which aims to ensure that each investment strategy is managed by a dedicated team with specific experience in that strategy. To start with, the firm has identified three distinct boutiques: large-cap growth equity with Sridhar Sivaram and Amay Hattangadi as lead portfolio managers; multi/mid-cap equity with Jayesh Gandhi as lead portfolio manager; and multi-strategy with Navneet Munot as lead portfolio manager.
The Morgan Stanley Ace Fund, an open-ended equity scheme managed by Jayesh Gandhi, was launched in February as the first open-ended offering of Morgan Stanley Mutual Fund in India.
The India Magnum Fund, an offshore fund set up in 1989, marked the entry of Morgan Stanley in the Indian market. In 1994, Morgan Stanley launched its first domestic fund, Morgan Stanley Growth Fund. As of December 2007, Morgan Stanley Mutual Fund had around Rs4380 crores in assets under management in India.
Morgan Stanley Investment Management, together with its investment advisory affiliates, had around $577 billion in assets under management or supervision as of February.
In its second annual sustainable investment report, the sovereign wealth fund says it invested $1.79bn in ESG bonds. Experts say asset owners next need to consolidate their standards.
Senior executives at the Taiwan financial group and Canadian pension fund believe that companies have to make an ESG transition, and may not have a choice in a few years.
Record low borrowing costs in Australia are feeding demand for the country's real estate, with domestic and global investors raising their allocations into the sector.
Experts have a diversified view on the appeal of private assets across the region, but one thing's for certain - inflows are rising, particularly into China and the US.