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 A$575 million sale of MLC Hong Kong and MLC Indonesia cleared regulatory hurdles on Wednesday, bringing to a close a deal that was signed in February.
NAB says it will continue to develop its financial services businesses in Hong Kong, Singapore and Japan based on premium banking, wealth management and corporate banking.
AXA Asia-Pacific is calling the deal a strategic success. ôLife insurance margins in Hong Kong are very attractive and, with high savings ratios there is considerable growth potential for life insurance, investment products and wealth management,ö says Les Owen, group chief executive of AXA Asia-Pacific.
ôOur existing 2,400 strong agency and adviser distribution force will be strengthened with the addition of over 800 agents.ö
In Indonesia, Owen says the integration of MLC will add 1,000 agents to its existing force of 1,100, making AXA ôthe second largest life insurer in terms of new businessö.
AXA will fund the transaction from internal capital resources. The acquisition will be earnings neutral in 2006 before one-off integration costs, and is expected to be earnings accretive in 2007.
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.
Stronger government actions are needed to meet the Paris Agreement goal of limiting global temperature rise to 1.5 degrees, investors such as Hesta and CDPQ signed in a statement.
AsianInvestor explains why we chose the winners of the second half of our 2021 fund manager winners, by major local markets.