There is definite proof that sustainability-focused funds are outperforming their conventional counterparts. But some experts believe the traditional explanations for this are wrong.
She returns from two years out of the industry with a remit to expand PrincipalÆs assets in the region as well as its asset management operation, with a particular focus on taking advantage of pension and fund management reforms.
Rex Aeyeung, senior vice president and chief executive Asia, says: ôThis move reflects our long-term commitment to the region through strengthening our asset accumulation and asset management capabilities, which comprise of pre-retirement accumulation, post-retirement payout, mutual funds and institutional asset management.ö
In Hong Kong, PrincipalÆs business includes MPF funds established in 1996 and retail funds distributed through the companyÆs bank network. Its China business so far includes a joint venture with China Construction Bank set up last year and, according to a source at the company, plans to pursue a role in the countryÆs burgeoning pensions market, with enterprise annuity a particular focus.
Principal has not yet developed its business network in Taiwan, though the source says this is a target in the firm's aggressive strategy to grow in the Greater China region.
Chan has 16 years of industry experience covering mutual funds, institutional asset management and pensions including Orso and MPF.
Prior to her last position at Invesco Hong Kong, she worked at companies including Swire Group, Price Waterhouse, KPMG and the Securities and Futures Commission of Hong Kong.
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The number of millionaires in mainland China grew by 35% in 2020, while the number of millionaires in Hong Kong fell by 7%, according to a new report from the private bank.
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Alternatives news roundup: Asia Pacific's alternatives market to hit $6tr by 2025; Indonesia's SWF to buy troubled toll roads
Asia Pacific alternatives market to grow to $6tr by 2025; Australian private capital assets rose to A$77 billion in mid-2020; Chinese authorities limit cash management products holding riskier securities; Indonesia's sovereign wealth fund to acquire several toll roads; Korean institutional investors support scheme to buy US asset-backed securities; and more.