The Mumbai-based multi-family office is eyeing a branch in Bangalore to add to its existing three and plans to build a platform linking European and Indian FOs.
This is despite them spending a bigger share of their assets on investment activities than their peers elsewhere, according to research by Campden Wealth and UBS.
A growing number of European families are putting offices in Asia with a view to diversifying their asset base and investment exposure. Fund firms and other service providers are taking note.
As Mumbai-based Waterfield Advisors builds a multi-family office with the backing of tech tycoons the Patni brothers, others are said to be making similar moves in India.
Hong Kong should replace its unit trust fund-raising structure with an open-ended fund company structure if it wants to attract Chinese hedge funds to domicile in the city, says the CFA's Paul Smith.
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.
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.
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.
The Canadian and Korean asset management operations of two life insurers have agreed to jointly take advantage of rising institutional investor demand for Asian alternative assets.