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 firm is represented in Hong Kong, Singapore and Tokyo. Under the changes, the Hong Kong office in Ruttonjee House, Central, will be closed and its responsibilities reassigned to the Singapore office. The Tokyo office, run by Jun Miyazaki, will remain unchanged and Jun Yamamoto will carry on as chief portfolio manager there.
A new management team is being appointed to manage the Asian book from Singapore. Those new hires have not been identified publicly, but have been disclosed to investors. They will handle the NewSmith Asia Absolute Fund, which is understood to be between $100 million and $500 million in size, though the exact assets under management remain a secret.
NewSmithÆs Asian equity team had been based in Hong Kong and was led by Low Seow Che, formerly of JF Asset Management, and Chua Wan Hoon, formerly of Arisaig Partners. While offers to relocate had reportedly been made, these two senior managers, along with other Hong Kong staff will not be moving to Singapore and their future plans are unknown.
Investors still favour private equity assets for their higher growth, better governance structures, and diversification potential.
The recent focus on greenwashing has put bond issues under greater scrutiny. However, some market participants believe this risks paralysis by analysis.
The AU$85 billion ($61.6 billion) Australian super fund has some exposure to indebted property developer Evergrande. Meanwhile, China’s construction finance is part of its core strategy in real estate.
Investors are seeing the risks, but also the opportunities of the logistics sector. Warehousing their fears for the moment, they can see it's a good conduit to high-growth assets.