In new statements on the extent of greenwashing in the fund management industry, Desiree Fixler highlights some uncomfortable truths about sustainable investing.
OriaÆs CEO, Jennifer Carver, says, ôWe have three Oria products, namely the Oria Commodity Fund, the Oria Asia Fund and the Oria Plus Fund; and we also manage four structured notes for Deutsche Bank. We currently have $50 million under management. We will be concentrating on raising assets for our existing funds and 3AÆs existing funds before we launch anything new. All staff are staying around in their usual capacities and we have no plans to hire anyone else at this point.ö
The Oria Asia and Oria Plus vehicles are multi-strategy funds of hedge funds with Asian and global coverage respectively. In the first 11 months of 2006 the Asian fund was up 7.3% and the global fund rose 9.7%.
The Oria Commodity fund had a bonanza in that period, rising 37%. That fund was only formally established in mid 2006, so those return statistics incorporate those of its predecessor fund, a $320 million Master Fund that had been in place since 2004.
The acquirer, SYZ & Co is based in Geneva and focuses on asset management, specializing in private banking and investment funds in addition to its alternatives activities.
The acquisition marks a happy ending for Oria, which was the untainted business spun out of Charles Schmitt & Associates, whose principal, Charles Schmitt, was arrested and jailed for embezzling client funds in 2004, thanks to his honest colleaguesÆ whistle-blowing.
CDPQ's Ivanhoe Cambridge hires ex-GIC real estate expert; NZ Super adds board member; Future Fund appoints chief people officer; BlackRock real estate CIO joins Singapore's Capitaland; AMP Capital hires MD for energy; Northern Trust AM names new CIO; T Rowe Price hires AU and NZ institutional head; Nuveen hires Southeast Asia institutional head; Citi names sustainability head in Singapore; and more
Investors are increasingly turning to private companies and private debt in their hunt for ESG alpha, but the age-old problem of transparency and due diligence remains
Already on the rise pre-Covid, investments into data centre assets in Asia have accelerated in the past year, fuelled by interest from investors across the spectrum.
Actively managed funds were also not found to have better odds of higher returns than more passive funds.