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Tag: asset management

  • Sumitomo Mitsui Trust Expands to Vietnam Through Asset Management Joint Venture

    Sumitomo Mitsui Trust Expands to Vietnam Through Asset Management Joint Venture

    Sumitomo Mitsui Trust Group will enter Vietnam’s asset management sector by forming a joint venture with a state-owned bank to capture shifting retail investment flows.

    The Tokyo-based financial group plans to launch the venture as early as next year. The partnership targets domestic household wealth as rising personal incomes push savers beyond cash deposits, real estate, and physical gold.

    Targeting Vietnam’s Retail Capital

    Vietnamese households hold the bulk of their personal assets in traditional savings accounts, bullion, and property. Sumitomo Mitsui Trust expects growing affluence across the country to accelerate demand for mutual funds, equities, and fixed-income products.

    The joint venture will use the state bank’s branch reach and domestic client network to distribute investment vehicles. Japanese asset managers have increasingly looked abroad to deploy capital expertise as Southeast Asian economies expand their domestic financial markets.

    Japanese Lenders Push Into Southeast Asia

    Japanese financial groups continue to seek fee-generating asset management businesses across ASEAN to offset low domestic loan margins. Vietnam remains a focal point for institutional capital because of sustained factory investment and urban wage growth.

    Regulatory approval for the joint venture and the final equity structure between the two banking institutions will dictate the official rollout date next year.

  • Italian Asset Manager Appoints New Sales Leader for Switzerland

    Italian Asset Manager Appoints New Sales Leader for Switzerland

    Eurizon Asset Management appoints Alain Barthel as Head of Sales Switzerland to enhance its market presence.

    In a significant move to solidify its footprint in the competitive Swiss financial landscape, Eurizon Asset Management has welcomed Alain Barthel as the new Head of Sales for Switzerland, effective April 1st. Operating from Zurich, Barthel brings a wealth of experience and expertise to this critical role.

    A Seasoned Professional Joins Eurizon

    Alain Barthel arrives at Eurizon with over 25 years of robust experience in sales and business development within the asset management and financial sectors. His previous roles include Senior Consultant at Anglo-Swiss Advisors and Head of Continental Europe at Brandywine Global Investment Management, a part of Franklin Templeton Group.

    Barthel’s impressive track record also features stints at leading asset management firms like UBS Asset Management, Goldman Sachs Asset Management, and Morgan Stanley Investment Management, where he held key sales positions and catered to a diverse array of client segments.

    Strengthening Client Partnerships

    Commenting on Barthel’s appointment, Gabriele Miodini, Head of International Business Development at Eurizon Capital SGR, stated, “With Alain, we are gaining an experienced industry expert for the very important Swiss market. His in-depth market knowledge, strategic thinking, and partnership approach with clients will play a key role in further strengthening our local presence.”

    Expanding European Reach

    Eurizon, an Italian asset manager, operates extensively across continental Europe. With offices in countries like Germany, Spain, and France, and subsidiaries in Luxembourg, the UK, Eastern Europe, and Asia, the company is focused on enhancing its investment capabilities and client services across the region.

    Impact on the Retail Sector

    With consumer demand for robust asset management solutions on the rise, Barthel’s leadership may significantly influence Eurizon’s growth strategy in Switzerland. As the firm expands its presence and fosters deeper client relationships, this appointment could reshape the retail investment landscape, bringing forward innovative solutions that align with evolving consumer trends.

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  • Maybank Asset Management sees AUM expanding US$50m in next 2 years

    Maybank Asset Management sees AUM expanding US$50m in next 2 years

    Maybank Asset Management Group (MAMG) expects its assets under management (AUM) to increase between US$30 million (RM126 million) to US$50 million (RM209 million) in the next two years, following its collaboration with Schroder Investment Management (Singapore) Ltd to co-develop investment solutions for sophisticated investors.

    As of end September 2018, MAMG’s AUM stood at RM33.7 billion.

    MAMG and Schroders Singapore announced their first long-term strategic partnership with the launch of two discretionary portfolios, namely Global High Dividend Equity Portfolio and Global High Conviction Portfolio.

    These solutions will be managed by Maybank Asset Management (MAM) Malaysia, a unit of MAMG, with Schroders Singapore as the investment adviser.

    “This is a very targeted high net worth segment so we are leveraging on Maybank private banking customers,” MAMG CEO Badrul Hisyam said.

    “The (market) sentiment right now is quite weak generally, unless the sentiment improves, then we would see better response to this kind of product,” Badrul added, revealing that at least three more products would be available under this collaboration in financial year 2019.

    “By integrating our strength in local wealth management with their global investment capabilities, the resulting synergy will allow us to deepen our foothold in the Malaysian wealth market, through dedicated offerings designed to achieve investors’ desired outcomes.

    “We recognise the growing demand for sophisticated, outcome-oriented global investment solutions, particularly among the high net worth community. We are therefore committed to delivering a range of global investment strategies to cater to their evolving financial needs,” he noted.

    Meanwhile, Schroders Singapore country head Susan Soh said as part of the continuing partnership, both companies would undertake further collaboration projects to co-develop solutions across other asset classes, including Shariah-compliant investment and private assets.

    “We believe our ability to combine the key tenets of asset management and wealth management offers differentiated value proposition to MAM Malaysia’s clients,“ Soh said.

    According to Badrul, the Shariah-compliant investment is expected to be available to the market by third quarter of 2019.

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  • Hui Xian Reit sees steady growth despite slowing Chinese economy

    Hui Xian Reit sees steady growth despite slowing Chinese economy

    Hui Xian Real Estate Investment Trust, the first yuan-denominated reit listed in Hong Kong, said on Tuesday that its amount available for distribution rose 8.4 per cent last year despite the weak growth in the mainland Chinese economy and the ongoing global slowdown.

    The reit said the amount available for distribution grew to 1.48 billion yuan from 1.36 billion yuan a year ago, with 98 per cent to be distributed to unit holders. Distribution per unit for the second half of the year was about 13.4 fen.

    Together with the interim amount announced earlier, the total distribution per unit for the year rose 5.2 per cent year on year to 27 fen. Its distribution yield was 8.11 per cent, based on the closing unit price of 3.33 yuan on December 31, 2015.

    “Last year was challenging, marked by a worldwide economic slowdown and increased international volatility,” said Kam Hing-lam, chairman of Hui Xian Asset Management, the manager of the reit, which is partly owned by Cheung Kong Property Holdings.

    Nonetheless, Hui Xian Reit managed to maintain the growth momentum, Kam said, adding that the increase was mainly driven by the organic growth of its existing leasing and hotel portfolio. The reit also gained from the additional income contributed by the newly acquired Chongqing Metropolitan Oriental Plaza from March 2 last year.

    Total revenue for the period was 3.05 billion yuan, up 9.1 per cent on an annual basis, while net property income rose 9.9 per cent to 2.04 billion yuan.

    Hui Xian Reit said its core asset, the Oriental Plaza in Beijing, achieved stable growth as it had heavy visitor flows despite a gloomy retail environment in mainland China.

    The average monthly passing rent surged 9 per cent to 1,193 yuan.

    Last year was challenging, marked by a worldwide economic slowdown and increased international volatility
    KAM HING-LAM, CHAIRMAN, HUI XIAN ASSET MANAGEMENT

    The reit said its offices and serviced apartments showed stable income growth while the hotel sector showed signs of stabilising.

    The average occupancy rate at Grand Hyatt Beijing improved to 58.8 per cent from 55.9 per cent a year ago, with the average room rate per night down 7.9 per cent year on year to 1,461 yuan.

    Hui Xian said all its existing projects were in mainland China, generating revenue in yuan. The currency’s exchange rate volatility, however, did not have a significant impact on the performance of the reit’s projects.

    Though most of its borrowings are in Hong Kong dollars, its yuan exposure will become visible when the currency’s exchange gain or loss is realised upon repayment.

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