SFC recovers $191m for investors; Singapore retail market opens up; Algo trading put under the microscope; Saudi restricts foreign buying to 10%; and hedge funds urged to upgrade cyber security.
There are more than half a million wealthy individuals in the Gulf Cooperation Council region with too few private bankers to serve them. It could be time for wealth managers to step up.
The Qatari fund manager would consider a partnership with an Asian firm, but first wants to boost its local equity penetration – a tough ask in the Middle East.
Even relative safe havens such as the GCC countries have suffered from turbulence in the wider Middle East and North Africa, despite the region’s potential.
A meeting in Muscat attended by leaders of Bahrain, Kuwait, Qatar, Saudi Arabia and UAE concludes with plans to set up a Gulf central bank and introduce a common currency not unlike the euro.
CPPIB, Omers and OTPP are busy hiring in the region for investment talent in credit, real assets and particularly equities. Omers is also planning to add office space in Singapore.
China Pacific Insurance appoints new chairwoman, COO; AMP's CEO to leave by third quarter; Robeco announces duo in senior China roles; Axa IM hires head of institutional sales for Asia; GLP names co-president for logistics; BlackRock sells onshore Korea distribution business; Income Partners poaches head of distribution from Vanguard; and more.
Swiss Re hires head of China asset management business; BlackRock deregisters its China WFOE; DWS names head of Apac insurance coverage; Amundi appoints first Asia sustainability officer; Manulife IM appoints senior portfolio manager for asset allocation; Morgan Stanley IM hires portfolio manager for A-shares; and more.
Although sustainable funds have seen increasing inflows amid growing environmental awareness and the spotlight on social issues due to Covid-19, the industry still lacks a standard definition of sustainable investing. Nicholette MacDonald-Brown, head of European blend equities at Schroders, explains the firm’s three-pronged approach of people, process and purpose.
Special purpose acquisition companies (Spacs) have gained ground as financing vehicles for companies looking to go public. But Asian family offices have yet to make many investments.
De-risking and green securitisation will help unlock much-needed institutional capital for sustainable infrastructure projects in Asia, say executives at multilateral development banks.
The Singapore state fund recently bought into impact investing specialist LeapFrog, and is eyeing more investments that combine strong financial returns with a positive social effect.