ESG is no passing fad, as more investors are convinced that alpha can be found in ESG and regulators continue to introduce rules to lift ESG standards.
The job of constructing the new fund has been given to Julius Wang, who has joined Vision as a managing director and member of the board. Vision has seen a few defections lately but is rebuilding and remains spearheaded by Asian fund of fund industry doyens, Jerry Wang and James Chen.
WangÆs job at Vision will be to devise and structure the fund. Therefore at this formative stage there are no specific details of how the Angel fund will operate, its target size, putative fee structure, or what percentage of the business a hedge fund manager will have to hand over in return for VisionÆs involvement. More details will emerge about the new fund by the beginning of the third quarter.
Before joining Vision, Julius Wang was a senior managing director at Ritchie Capital Asia and before that he managed a multistrategy fund of funds at SAIL for five years.
At Ritchie Capital he helped set up the Hong Kong operation which Harjit Bhatia now runs. Ritchie has confirmed that Wang will not be replaced there.
Vision is one of AsiaÆs most well known indigenous fund of funds. It has total assets under management of $1.7 billion. It was the recipient of a portion of the hotly contested CALPERS allocation to Asian fund of funds in 2005. Vision was also a double winner of Asian Investors Asian fund of funds award in 2004 and 2005.
In its second annual sustainable investment report, the sovereign wealth fund says it invested $1.79bn in ESG bonds. Experts say asset owners next need to consolidate their standards.
Senior executives at the Taiwan financial group and Canadian pension fund believe that companies have to make an ESG transition, and may not have a choice in a few years.
Record low borrowing costs in Australia are feeding demand for the country's real estate, with domestic and global investors raising their allocations into the sector.
Experts have a diversified view on the appeal of private assets across the region, but one thing's for certain - inflows are rising, particularly into China and the US.