Drawing upon Standard Life Investments’ established stock-picking expertise, the Fund will be managed by Alistair Way1 and will consist of a diversified portfolio of 60 – 100 stocks with stock, sector, country and tracking error limits.
Citi’s Agency and Trust business, part of the Citi Transaction Services division, has been appointed as Trustee, Principal Paying Agent, Registrar and Transfer Agent for the Bank of Ceylon’s USD 500 million global bond.
Ricard told AsianInvestor.net that the fund industry in Asia is experiencing a dramatic change that is expected to see Asian fund managers expand their capabilities to transcend regional boundaries, incentivize regulators and sign bilateral agreements.
OCBC NISP president director Parwati Surjaudaja said on Tuesday that the financing firm would most likely be either a bank or an automotive financing firm that lends for heavyweight equipment, cars and motorcycles.
The Asian prime brokerage units of Credit Suisse and Bank of America Corp gained market share in the last one year when Goldman Sachs and Morgan Stanley, the top-two industry players, lost hedge fund clients and assets, a survey showed.
Tyndall Investment Management New Zealand has dumped its boutique New York-based fixed interest portfolio manager in favour of Goldman Sachs, citing in part fears about the quality of European bond issuance.
Japanese investors will likely be among those attracted by the weaker currency, which this week tumbled below parity against the greenback, said Anne Anderson, head of fixed income for Asia Pacific at UBS Global Asset Management.
Art HK advisory board member Philip Dodd, the former director of the Institute of Contemporary Arts London, said the growth of private museums was symbolic of the shift in economic power from West to East.