Responsible investing includes allocating to poor-ESG performing EM countries and helping them shift to greener solutions, instead of divesting completely, experts said.
Murphy will be responsible for marketing and distribution of Triple A seeded hedge funds among Asian investors, in addition to raising money for Triple AÆs seeding fund, which currently stands at $101 million and targets raising a further $200 million.
She will report to Triple A director Roger Pyrke and will be based in Hong Kong. Triple A Partners was founded in 2007 by Pyrke, along with Paul Smith and Hans Tiedemann. Murphy worked with Smith for five years at Bank of Bermuda and then HSBC, before stints with Deutsche BankÆs asset management unit and FortisÆs hedge fund administration business.
Three Asian hedge funds have been seeded by Triple A, and a fourth investment should be announced shortly. Within five years the company hopes to have a portfolio of 25 hedge funds, and if three or four of those can grow to become heavyweight, billion-dollar managers, Triple A will be happy.
As well as seeding the hedge funds with approximately $20 million (which they would then plan to redeem after three years and re-cycle in another new fund), Triple A takes a stake of around 20% in the asset management company in return for investing enough working capital to cover around two years of operations.
ôHedge fund managers are more open this year to being seeded. Those who may have found seeding terms a little tight last year have revisited us this year as they have found capital raising to be harder than anticipated,ö says Pyrke. ôAlong with the middle office and risk support of CLSA, we can offer those people coming out of an investment bank who want to start a hedge fund and build a business, with a æplug and playÆ system.ö
Apac asset owners are more keen than their global peers on private equity and infrastructure sustainable investments. However, they trail behind in public equity.
Stakeholders are placing increasing importance on gender equality on corporate boards, but institutionalised problems continue to limit career advancement for women in Asia Pacific, experts say.
Weekly investor roundup: Hong Kong's Exchange Fund posts HK$13.2 billion loss; MAS tightens monetary policy in surprise move
Hong Kong's Exchange Fund posted a third-quarter investment loss after five quarters of gains; the Monetary Authority of Singapore said it would raise the slope of its currency policy band up from its current 0%; the Korea Investment Corporation surpasses $20 billion in AUM for the first time; RB Family Office to buy 12 four-storey conservation shophouses in Singapore; and more.
Inflation, fluctuating interest rates, Covid-19 shutdowns, and sporadic reopenings have led to bouts of volatility in the market, with tech stocks bearing the brunt of the selling over the last month.