After two tenures, AsianInvestor's 2021 Standout CIO Jang Dong-hun looks back on the past six years at Korea's Poba with satisfaction.
The fund will comprise of a large equity exposure, with Public Mutual projecting that between 75% to 90% of its total net asset values (NAV) will come from this asset class. Of the PIADFÆs total NAV, up to 70% will be invested offshore in Asia-Pacific markets.
Within the universe of listed companies acceptable to sharia principles (similar to Western ethical funds), the fund will seek fundamentally undervalued stocks expected to pay attractive dividends of 3% or more, says Teh Hong-Piow, chairman. He says these dividends are now common in many regional markets.
Earlier this month, parent Public Bank mandated the firm to run a wholesale money-market fund, PB Cash Plus Fund. In January, Public Mutual was also active with several new fund launches, including the Public Far-East Balanced Fund and the Public Global Balanced Fund, which invest in similar markets to its new Islamic dividend fund.
The launch of its latest fund comes after a booming start to the year for MalaysiaÆs unit trust industry following the countryÆs government's decision to relax rules in April 2005, allowing unit trust funds to be invested overseas. Since the regulatory change, approximately 60 offshore funds have been launched, amassing a fund size of RM11.55 billion ($3.34 billion).
Brunei Investment Agency names head of real estate; Former Temasek CEO Ho Ching joins EQT Future's mission board; APG managing director for global real assets relocates to Hong Kong; Manulife Hong Kong appoints chief financial officer and chief product officer; Wayne Swan commences as Cbus chair; AXA IM appoints head of client group alts Asia; and more.
Census experts say China's population will start to decline at least five years earlier than expected - investors are being warned to keep a weather eye on inflation and structural shifts.
Family offices in Hong Kong want to do more impact investing, but the paucity of ESG talent and the lack of uniform reporting standards are real issues for them.
An impending series of interest rate increases and the deterioration in relations between Russia and the West over Ukraine have worried investors in recent weeks, hence the volatility in US equities in particular.