Fubon Life names new Hong Kong CEO; Spirit Super hires deputy CIO; HKMA Exchange Fund deputy CEO retires; Australian Ethical welcomes new CEO; and more.
Singapore's sovereign wealth fund sees a clearer picture for Chinese tech investments; Korean state pension fund is estimated to run dry by 2055; and more.
The China Investment Corporation released guidelines on reaching carbon neutrality at the portfolio level in the next five years and beyond;China will allow foreign institutional investors to trade bonds after record selloff; Westpac is transferring its superannuation funds to Mercer Super Trust; Korea's Government Employees Pension Service chooses alternative investment head at Samsung Life as new CIO.
Singapore sovereign wealth fund GIC takes up 49.9% stake in Wee Hur’s student housing portfolio in Australia; China's Sunshine Insurance reportedly looking to list on HKEX in potentially the largest IPO of the year; New China Insurance issues a warning that its first-quarter profit might decline 70%; and Temasek sends stern warning on corporate governance to portfolio companies; and more
The two largest life insurers in Taiwan are set to maintain stock holdings that increased in the first half, while looking to raise their exposure to US bonds in order to find more yield.
The second-largest life insurer in Taiwan cuts its allocation to China bonds and raises its exposure to North America.
Unlike bigger peer Cathay Life, Fubon Life said it might look at investment opportunities in the domestic market as hedging costs rise along with US interest rates.
Canada's CPDQ to acquire 40% of CLP India; Chikyoren announces PE mandate; Kwap to undergo managerial revamp; Singapore's GIC to establish China fund, and more.
Cathay Life and Shin Kong Life have been upping their exposure to emerging market bonds. They and Fubon Life have also generated strong returns from high-dividend stocks.
The Bureau of Labor Funds, Cathay Life and Fubon Life are upbeat about the move to allow domestic asset managers to launch private equity funds.
The Taiwanese insurer is also keen on Formosa bonds and high-dividend stocks, but has zero US Treasuries and is waiting for yields to rise before it buys more foreign fixed income.
Taiwan's Fubon Life, with $95 billion in AUM, is putting its faith in North American large-cap credit this year and adding private equity exposure, but will be more selective on EM debt.