The Dutch pension asset manager's Asia Pacific head of real estate says his team has just had one of its busiest years ever and that 2021 is looking similarly promising.
It is the third entrant to this market this year, following rival broker Seamico as well as Manulife Asset Management.
The firm plans to offer funds later this year, which will likely include retirement and money-market products. In June, it launched its first long-term fund (LTF), an instrument promoted by the Stock Exchange of Thailand to boost liquidity and encourage retail investment. PhillipsÆ LTF raised nearly Bt6 billion ($192 million).
Phillip Asset Management will also look to launch foreign investment funds and possibly products like derivatives or structured notes as it gains a greater foothold in the market.
Suchai Suthasthamkul, managing director of Phillip Securities, and Vattana Vongseenin, deputy CEO of Phillip Asset Management, will run the new business. Vattana joined the firm from Thai Life Insurance where he was deputy director for its provident fund.
The final step before receiving the green light to open doors was to receive SEC approval for its operating systems. Phillips put in place a system vended by DST International to bring its risk management and other functions up to snuff.
Sunsuper and QSuper appoints CIO for combined entity; State Street appoints heads of HK and Taiwan; Nothern Trust rebuilds Apac team; Manulife IM names emerging markets fixed income CIO; RBC Wealth Management hires four into HK; Lombard Odier hires two senior equity managers; Allianz Global Investors appoints Asia hand as equity CIO; and more.
Investors from China and the US are expected to continue buying assets in each other’s markets despite the blacklist of Chinese firms with military and surveillance ties.
Stronger government actions are needed to meet the Paris Agreement goal of limiting global temperature rise to 1.5 degrees, investors such as Hesta and CDPQ signed in a statement.
AsianInvestor explains why we chose the winners of the second half of our 2021 fund manager winners, by major local markets.