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TRENDS (Published Date :12/1/2012)

ALTERNATIVES

Thai growth shackled by short-termism
By Toby Garrod
Category :Asia,Thailand
As the global investment community brings alternative investments, such as commodities, private equity, infrastructure, and property, ever closer to the mainstream, Thailand is retaining a more traditional approach to the asset classes due to a local preference for short-term investments, a lack of demand for diversified strategies, and a lack of capable onshore managers, Yingyong Nilasena, the Government Pension Fund’s deputy secretary general, fund management group, tells Asia Asset Management.

MARKET ACCESS

CSRC mulls significant raise of QFII quota ceiling
By Hui Ching-hoo
Category :Asia,China
The China Securities Regulatory Commission (CSRC) is considering raising the ceiling on qualified foreign institutional investor (QFII) quotas for individual foreign institutions to US$5 billion.

REGULATION

Shanghai launches RQFLP scheme
By Hui Ching-hoo
Category :Asia,China
Shanghai has reportedly become the first pilot city to launch the new RMB qualified foreign limited partner (RQFLP) scheme. Accordingly, Haitong International, the international arm of Haitong Securities, will be the first institution to be awarded the RQFLP license.

DEBT MARKETS

AXA IM offers alternative to active corporate bond fund management
By Toby Garrod
Category :Global
AXA Investment Managers has developed a fixed-income solution that offers a middle way between active corporate bond fund strategies (and their value concerns) and passive index strategies based on market cap weightings (and their implicit inefficiencies).

GOVERNMENT PENSION FUND

LPF announces solid profits on REIT mandates
By Hui Ching-hoo
Category :Taiwan
Taiwan’s Council of Labor Affairs (CLA) announced on November 21 that the US$900 million worth of REIT mandates the Labor Pension Fund (LPF) dished out to Cohen & Steers, Invesco and European Investors Incorporated (EII) earlier this year had recorded combined profits of $61.35 million as of the end of October, translating into an annualised return of 20.57%.

MARKET PRESENCE

Fullgoal Fund Management opens HK subsidiary
By Hui Ching-hoo
Category :Asia,China,Hong Kong
Fullgoal Fund Management, the ninth largest asset manager in China, launched its Hong Kong subsidiary Fullgoal Asset Management (HK) on November 20 in order to increase its overseas exposure.
Goldman Sachs to shut Korea office
By Toby Garrod
Category :Asia,Hong Kong,Korea,Singapore
The idiosyncrasies of the sizeable South Korean institutional asset management market have proven too much for Goldman Sachs Asset Management (GSAM), which is shutting its office there after five years of losses.

EXCHANGE TRADED FUNDS

China and HK ETF markets in good shape
By Hui Ching-hoo
Category :Asia,China,Hong Kong
Fund consultancy Morningstar holds a positive view on the ETF markets in Hong Kong and China in view of their diversifying product bases. The markets rose 26% and 130% for the first ten months of this year, respectively.

PENSIONS

Key advancements required for Thai retirement schemes
By Toby Garrod
Category :Australia,China
The best way for Thai pension funds to deal with the ongoing problem of weak adherence to the investment objectives of employer-funded schemes is to ultimately shift the decision-making responsibility away from retirement fund committees toward the individual pension members themselves, says Somjin Sompaisarn, CEO of TMB Asset Management and chairman of the Association of Investment Management Companies.
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