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
Although the size of the mandate will not be revealed for several months, Pictet Asset Management executives say the awarding of a mandate in principle by the China Securities Regulatory Commission is evidence that the firm is serious about its expansion ambitions in Asia-Pacific.
ôThe State Administration of Foreign Exchange decides how large the mandate is,ö explains Amy Cho, PictetÆs recently appointed head of institutional marketing in Asia-Pacific. ôOnce it does we are going to bring it to bear on our Asian and Greater China mutual funds. China is a market where we see great opportunities for growth, particularly in A-shares, which we think have good upside potential.ö
Obtaining its own QFII license means Pictet will no longer have to rely on brokers to provide it with Chinese exposure and, according to Cho, this will provide a significant opportunity for investors in Europe as well as Asia.
ôWe are starting to see huge distribution and are driven by the demand for investment opportunities,ö Cho says. ôWe have used brokers in the past but now want to develop our own investment utilities and this shows our commitment to the region.ö
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.