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
This marks ICBCÆs third QDII offering to Chinese retail investors. It also marks TempletonÆs recent expansion in China. Previously, TempletonÆs funds were also selected by Bank of ChinaÆs investment team for its proprietary QDII product. The fund manager has secured a joint venture with the countryÆs biggest insurer China Life to manage for its international investments.
The Templeton BRIC fund is managed by emerging market guru Mark Mobius. With total size of $2.1 billion, it currently allocates 32.16% to energy stocks, 23.34% to industrial materials, 9.75% to financials, 5.41% to consumer goods and 5.71% to utilities. As of end-September, it provided a 38.94% return - 6.4% higher than MSCI emerging markets over the same period.
The Templeton Asian Growth Fund is another offering by Mobius. Independent fund rating agency Morningstar has given the fund a five-star rating. Year to date, it has provided a 50.52% return. Its current top holdings include Aluminium Corp of China, PetroChina, China Petroleum, SK Energy and Hyundai Development.
Also rated by Morningstar in the five-star category is Michael HasenstabÆs Templeton Global Total Return Fund. At a year-to-date return of 9.39%, it provides a portfolio of fixed and floating rate debt securities and debt obligations. Bank QDII regulations require about 50% allocations to fixed income products.
Based in San Mateo, California, Franklin Templeton has more than 60 years of history and manages over $669 billion worldwide today.
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.