The US firm’s new Asia head of hedge fund services targets expansion in Hong Kong and Singapore, citing increased demand from Chinese clients and growth of alternative Ucits products.
Oliver Jones
Nikko AM creates product promotions role; ICBC Credit Suisse AM appoints index head; JP Morgan AM poaches Asia marketing chief; Sunsuper replaces CIO; ANZ sets up specialty funds post; SG names Asia prime services head; and HK's SFC appoints non-exec directors.
Globally private equity firms are handing out higher performance bonuses, but Asian general partners are said to still pay significantly less in bonuses than their international peers.
A panel of private equity investors also discussed the implications of a shift towards direct deals in preference to co-investment, with Australia's QIC tipping greater dispersion of returns.
The alternative investment firm's co-chairman is tipping more distressed opportunities in China off the back of an expected rise in defaults. It has also been raising money from mainland investors.
The asset manager is considering launching Ucits liquid alternatives products and looking to tap what it sees as growing institutional demand for alternative beta.
Emerald Media, set up to invest in media businesses in Asia, will look for opportunities in the Philippines, Thailand and Vietnam to add to KKR assets in India and Indonesia.
And some institutional investors are looking at listed infrastructure funds as a way to get liquid exposure, says Matthias Meyer of Deutsche Asset & Wealth Management.
Value strategies could ultimately offer fewer opportunities in Japan due to improving corporate governance, but it's a good bet for the time being, says Man Group's Jeffrey Atherton.
Australia's MainstreamBPO has expanded its Hong Kong and Singapore presence with the purchase of Alter Domus's Asian hedge fund admin unit, as it eyes the family office segment.
Systematic risk has abated leading to a hedge fund investment trend towards markets being driven by stock picking.
The move comes amid a reshuffle at the top of ANZ's ETF business and as Hong Kong is seen mulling the introduction of its first short and leveraged ETFs.
