Ping An seeks to up real assets exposure, Cbus makes first direct offshore infra bet; India's Esic awards mandate to Reliance Nippon AM, UOB reviews insurance deal with Prudential, and more.
Many asset owners are pulling out of hedge funds, dismayed by their relatively high fees and low returns. Others, including some Asian institutions, are reviewing their allocations.
Institutions such as Hanwha Life and the Military Mutual Aid Association say bad experiences from the 2008 crisis have led them to diversify alternatives exposure and be more collaborative.
The $7.2 billion fund hires Seok-Hwan Park, who has worked for Barclays Global Investors in Hong Kong, to run asset management and investments after his predecessor resigned.
Three-star general Kim Jin-hoon takes charge of South Korea’s $7 billion Military Mutual Aid Association.
The Military Mutual Aid Association is shifting to emerging-market equities as it diversifies away from heavy positions in real estate.