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.
Martin is the second senior departure from New StarÆs Hong Kong office, after James Campion, formerly head of retail for Schroders in Hong Kong, left earlier this year.
Philip Goldsmith, managing director in the United Kingdom, says Martin left because, like Campion, his background was retail, specialising in wholesale distribution to independent financial advisors and the like.
New Star has for the past year oriented its Hong Kong business away from retail to focus solely on institutional business, Goldsmith says. That includes selling its investment expertise to insurance companies, funds of funds, family offices and private banks.
ôOutside of the UK, our strategy is institutional,ö Goldsmith says, noting the Hong Kong business model is now in line with what the firm does in continental Europe. New Star, which has a total of $34 billion under management, has both institutional and retail business in the UK. New Star began business out of the UK six years ago under John Duffield, formerly of Jupiter Asset Management.
Goldsmith says an institutional business doesnÆt require as many people as a retail one, so Martin wonÆt be replaced. Louis Poon will be the most senior person in the Hong Kong office, as direct of sales, a position heÆs held for over two 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.
Malaysia's Armed Forces Fund hires new CEO; Canada's Omers appoints Asia capital markets managing director; HSBC Asset Management creates alternatives unit, appoints CIO as its head; Bank of Singapore names global wealth head; Aware Super hires IFA head; Hong Kong names acting head for MPFA; Schroders adding to Asia ESG headcount; and more.
Asian fixed income assets – including Hong Kong dollar (HKD) bonds – are luring growing numbers of global investors who are striving for reliable and consistent returns amid macro uncertainty compounded by rising inflation and rates, according to HSBC Asset Management.