There is definite proof that sustainability-focused funds are outperforming their conventional counterparts. But some experts believe the traditional explanations for this are wrong.
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
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.
The Australian pension fund joins other asset owners in eyeing private credit opportunities in the Asia-Pacific region, although liquid defensive assets retain a majority of allocations.
Alternatives news roundup: Asia Pacific's alternatives market to hit $6tr by 2025; Indonesia's SWF to buy troubled toll roads
Asia Pacific alternatives market to grow to $6tr by 2025; Australian private capital assets rose to A$77 billion in mid-2020; Chinese authorities limit cash management products holding riskier securities; Indonesia's sovereign wealth fund to acquire several toll roads; Korean institutional investors support scheme to buy US asset-backed securities; and more.