A compilation of recent new initiatives and product launches in the Asia Pacific region
Oman wealth fund to set up second fund to invest in Vietnam
Oman’s sovereign wealth fund is setting up a second fund to invest in Vietnam, with initial capital of US$200 million.
The Oman Investment Authority (OIA) and Vietnam’s State Capital Investment Corporation have signed a pact to establish the Vietnam New Era Growth Fund, the wealth fund says in a statement on June 11.
OIA’s first fund, the Vietnam-Oman Investment Fund, was launched in 2008 and has invested $400 million in the Southeast Asian country.
Taiwan bourse and Bloomberg launch US-Taiwan multi-asset index
Taiwan’s stock exchange and Bloomberg Index Service have launched a Taiwan-US multi-asset index.
The Bloomberg TIP Taiwan and US Momentum Balanced Multi-Asset Index is the first cross-border multi-asset benchmark in Taiwan, and aims to shape an investment strategy that balances risk diversification and stable returns, Taiwan Index Plus Corporation, a unit of the Taiwan Stock Exchange, says in a statement on June 12.
The benchmark integrates the firm’s customised Taiwan momentum index and the Bloomberg US Treasury 20+ year total return index.
Mirae Asset lists Asia Pacific ex-Japan ETF in Hong Kong
Korea’s Mirae Asset Global Investments has listed an Asia Pacific ex-Japan equities exchange-traded fund in Hong Kong.
The Global X MSCI Asia Pacific ex Japan ETF covers mid and large-cap stocks and tracks performance of the MSCI AC Asia Pacific ex Japan Index.
“The fund enables investors to capitalise on the dynamic growth of Asia’s markets, from emerging powerhouses like China, India, and South Korea to developed innovators such as Australia,” the Korean asset manager’s Hong Kong unit says in a statement on June 9, when the ETF was listed.
Malaysia’s Kenanga Investors launches global real assets fund
Malaysian asset manager Kenanga Investors has launched a global real assets unit trust fund that invests in exchange-traded funds.
The Kenanga Alternative Series: Global Real Assets Fund’s ETF exposure is managed by Malaysian fund manager GAX MD, which uses sophisticated algorithms and advanced investment models to ensure precise and effective management of global real assets, Kenanga Investors says in a statement on June 6.
According to Ismitz Matthew De Alwis, executive director and chief executive officer of Kenanga Investors, the two firms have teamed up to create an investment strategy based on a “systematic, data-driven and cost-efficient approach to portfolio construction that optimises performance while strengthening diversification and risk management”.
Singapore’s Syfe raises US$80 million in funding round
Singapore robo adviser Syfe has raised US$80 million in a Series C funding round led by two UK family offices.
Returning investors that participated in the fundraising include UK investment firm Unbound and Valar, a US venture capital firm, Syfe says in a statement on June 6. It did not name the family offices that led the funding.
The company says the money will be partly used to expand its business in Hong Kong.
Hong Kong’s Chartwell Capital launches fund in Singapore
Hong Kong asset manager Chartwell Capital has launched a feeder fund in Singapore structured as a variable capital company or VCC.
The fund feeds into the Hong Kong-domiciled Chartwell Asia Pacific Income Fund, which invests in Asian listed companies with high cash flow yields that are often majority-owned by the founding families, Chartwell says in a statement on May 30.
The company launched the feeder fund in collaboration with Singapore’s Tembusu Partners, an investment firm that focuses on private equity and debt, venture building, and fund management through VCC structures.
Singapore introduced the VCC structure in 2020 to bolster the city state’s status as a regional fund distribution hub.
Hong Kong asset managers list Saudi sukuk ETF
Hong Kong investment firms Premia Partners and BOCHK Asset Management have listed a Saudi Arabian government sukuk exchange-traded fund.
The Premia BOCHK Saudi Arabia Government Sukuk ETF covers Islamic bonds issued by the Saudi Arabian government or A-rated sovereign issuers, Premia says in a statement on May 29, when the ETF was listed on the Hong Kong bourse. According to the company, this is the first investment grade sukuk ETF in Asia.
Premia says the fund’s strategy reflects Saudi Arabia’s low government debt and its plan to become less dependent on oil and diversify into new industries.
Allianz Global Investors launches active ETF in Taiwan
Germany’s Allianz Global Investors (AllianzGI) has launched an active equity exchange-traded fund in Taiwan.
The Allianz Taiwan High Dividend Growth Active ETF will invest in Taiwan-listed stocks, with a core dividend strategy supplemented by sub-strategies that identify growth stocks.
This is AllianzGI’s first active ETF in Taiwan and underscores its commitment to innovation and long-term growth in Asia, the company says in a statement on May 28.
Sarawak state wealth fund gets nod for global investments
The Malaysian state of Sarawak’s sovereign wealth fund has been given the greenlight by regulators to begin investing globally.
According to Johari Openg, premier of the resource-rich East Malaysian state, the approvals are a “crucial step in portfolio diversification” for the Sarawak Sovereign Wealth Future Fund.
“It opens the door to international opportunities that will help maximise long-term returns for Sarawak and the people,” he said in a speech to lawmakers at the Sarawak Legislative Assembly on May 28.
He said the wealth fund is in the final stage of appointing external managers for its bond portfolio, and that appointments for other asset classes will be done in subsequent phases.
