MAS names sustainability head; Malaysia’s EPF appoints COO and CFO; GIC PE head for SEA leaves; State Super hires new exec; Hesta appoints chief growth officer, chief Debby Blakey appointed to corporate governance board; ex-BlackRock exec joins IQ-EQ in Singapore; HSBC AM builds direct real estate team; ex-Vanguard head of distribution joins LGIM; Sanne names Singapore head; and more
The 50-50 joint venture, which will be named Standard & PoorÆs/CITIC Index Service, formalises an existing relationship between the groups.
According to S&P, the new joint venture ôwill develop new and innovative indices to meet the changing needs of domestic and international investors, and will promote financial innovation and global participation in ChinaÆs equities and fixed income marketö.
S&P president Kathleen Corbet says: ôWith ChinaÆs rapid integration into the global financial markets, we expect increasing demand for innovative Chinese investment products that meet global standards.ö
In March 2004 the pair launched the S&P/CITIC 50 A-Share tradable index and the S&P/CITIC 300 A-shares benchmark index, with the latter now claiming to have 13 companies and 19 funds using it to track performance.
The pair has since launched a number of other indices, including the S&P/CITIC China 30 Index, which aims to provide ôbest in class exposure to ChinaÆs economic potentialö by combining the 30 largest blue chip enterprises from the 250-plus Chinese stocks listed outside China.
Robert Shakotko, S&PÆs managing director of index services, says he hopes the S&P/CITIC series will eventually become the ôglobally-accepted yardstick by which Chinese equity markets are measuredö.
Kwap property arm appoints CEO; VFMC names new CEO as Lisa Gray retires; MSIG Singapore promotes Mack Eng as CEO; Monroe Capital opens first Asia office in Seoul, hires head from Aberdeen; Vanguard Australia appoints new MD to relocate from US; HSBC AM expands EM debt team; Vantage FX hires from CGS-CIMB in Singapore; and more.
Financials and healthcare have been spotted as promising sectors, while several tech IPOs are on the way, including a $2.2 billion fintech firm and a GIC-backed e-commerce startup.
A strong recovery in the Asia Pacific private capital markets in 2021 sets up favourable hiring and compensation trends.
The $95 billion Korean savings will set up a separately managed account for real estate debt investment early next year in order to shorten decision-making and help it win deals in a crowded market.