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
Before officially opening doors over the next three months, both Phillip and Seamico will need to receive SEC approval on their individual operating systems. Under this process, the SEC will conduct thorough audits and assessments of management teams, risk management and broker and asset management IT systems. Once the firmsÆ pass this regulatory check they are then allowed to begin business.
Seamico Asset Management will be run by CEO Duangporn Termwattana. Initially, the firm will focus on fixed income fund, despite the fact that it is attached to one of ThailandÆs leading equity brokerages, and will rely on multiple distribution channels including mobile sales teams.
According to Phillip Securities, it already has an operations and management structure in place, but would not divulge who will manage the new entity.
Phillip and SeamicoÆs standing as the new kids on ThailandÆs asset-management block will probably be brief. License approval for at least two other financial firms is imminent, which are believed to be for Manulife and Kim Eng Securities.
Although it is unclear who will run Kim EngÆs new asset management arm in Thailand, ManulifeÆs venture will be run by Alan Kam, who previously served as managing director of Aberdeen Asset Management.
The 18 firms operating in this market manage 808 funds as of the end of 2006, totalling assets of Bt1.22 trillion ($33.3 billion), representing a 26.82% gain against end-2005.
Investors are increasingly turning to private companies and private debt in their hunt for ESG alpha, but the age-old problem of transparency and due diligence remains
Already on the rise pre-Covid, investments into data centre assets in Asia have accelerated in the past year, fuelled by interest from investors across the spectrum.
Actively managed funds were also not found to have better odds of higher returns than more passive funds.
Investors still favour private equity assets for their higher growth, better governance structures, and diversification potential.