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
The pair will work together to develop a special range of Tower-branded multi-manager products, with Tower assigned to manage the partnership and Russell given overall responsibility for investorsÆ funds.
CEO of Tower Investment, Graham Evans, says Russell was picked from a string of candidates because of its strong local focus in Australia.
Meanwhile, Alan Schoenheimer, managing director for Russell in Australasia, says: ôMulti-manager investing is a complex process that combines global manager research, the careful selection and blending of managers, asset allocation, performance monitoring and efficient implementation of a portfolio,ö says
ôMore recently, changes within the structure of capital markets have made it necessary to gain exposure to non-traditional asset classes such as hedge funds and global listed property, and to access the expertise of boutique managers with innovative approaches to sourcing alpha within a disciplined risk management framework. This is RussellÆs core focus.ö
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.
The fund's 29.6% returns marked its best ever and exceeded its reference portfolio, which has 80% allocated to equities, by 1.73%.