There is definite proof that sustainability-focused funds are outperforming their conventional counterparts. But some experts believe the traditional explanations for this are wrong.
Finance minister and deputy prime minister, Surapong Suebwonglee, says ThailandÆs international reserves, which are valued at $109 billion, are not enough to support a sovereign wealth fund and should be used instead to support the countryÆs financial stability. Surapong made the comments in a sovereign wealth funds seminar in Thailand.
Surapong notes that ThailandÆs international reserves have grown by around 40% over the past two years, mainly due to the countryÆs current account surplus.
It was reported that, in December, ThailandÆs Prime Minister's Council on Trade and Industry suggested the setting up of a sovereign wealth fund of around $5 billion to be used to finance the acquisition of companies abroad.
Elsewhere in Asia, India is considering setting up a sovereign wealth fund, with a slightly different structure considering the country has fiscal and current account deficits. In general, sovereign wealth funds are started with excess reserves from central banks and monetary authorities.
Taiwan is also mulling its options. It could set up a sovereign wealth fund using part of the central bankÆs $277 billion in foreign exchange reserves and could use SingaporeÆs Temasek or Government Investment Corporation (GIC) as its model. Based on the upper range of the IMFÆs estimate of the GICÆs assets at between $100 billion to $300 billion, the Singapore entity is the third largest sovereign wealth fund worldwide.
Investors can still find spread premiums in niche private debt, with the asset class's prognosis looking strong, said a keynote speaker at AsianInvestor’s latest summit on Wednesday.
AsianInvestor details the second part of our marquee award winners for 2021, which includes the standout ESG adviser and also the asset manager of the year.
AsianInvestor reveals the first half of our marquee winners for this year's Asset Management awards, including best asset service provider and top alternative fund houses.
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.