The number of “millionaires next door” is growing exponentially in Asia-Pacific and they are turning to technology as they seek better returns from their investable assets.
As rising interest rates take some of the shine off the bond market, FinEX Asia suggests investors explore consumer finance for stable returns.
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BlackRock cuts to hurt Asia less; Malaysia's PNB names new CIO; Merian appoints HK sales head, global CEO; Sanne opens Tokyo branch; AllianzGI replaces Asia general counsel; and more.
Fullerton creates PE team, replaces sales chief; SoftBank adds head of real assets; HK SFC tipped to ramp up enforcement action; Vanguard moves insto head; Manulife AM poaches from Mercer; UBS WM names Asia co-heads; BNP Paribas WM appoints China co-heads.
The Asian insurance giant has named a well-known industry figure to the role previously held by Benjamin Deng, adding to a list of recent investment staff changes in the sector.
Some insurance firms are shifting money from pooled funds into separate accounts to dampen the higher profit-and-loss volatility expected to result from a new reporting standard.
The Hong Kong group has appointed Willis Towers Watson as an outsourced chief investment officer to invest its pension funds, sources familiar with the arrangement say.
The Chinese authorities are encouraging insurers to invest more in private equity funds, but the chances of success are debatable.
Taiwan will soon have its first ESG ETF and pension funds could be the likeliest target market.
The recently set up C$62 billion public-sector fund manager plans to double its investment team, insource most assets and do more direct deals, says CIO Jean Michel.
The Thai pension fund's move is part of a growing trend for Asian institutions to adopt ESG practices across their investment portfolios.
Despite the recent global sell-off in company shares, markets are still not pricing in a possible explosion of volatility as US rates approach a key inflexion point, say some market experts.