Posted inNewsSingapore

Fund houses in Singapore push

Allianz Global Investors is bringing in a stack of funds, including one that is focused on pets, while M&G Investments, post de-merger, sets up investment camp.

Seven products from Allianz Global Investors Fund series are waiting for the approval from Monetary Authority of Singapore (MAS), according to the regulator’s records. Once approved, they will be available to retail investors in Singapore.

The products are: the Emerging Markets SRI Corporate Bond Fund, Emerging Markets SRI Bond Fund, Advanced Fixed Income Short Duration Fund, Dynamic Income Fund (it will be renamed from Income and Growth Fund on 23rd December), Cyber Security Fund, Pet and Animal Wellbeing Fund, and Global Financials Fund.

All except for the Cyber Security Fund are Luxembourg-domiciled products already selling in Europe, according to the factsheets.

This move follows the firm’s rollout of thematic funds in Singapore in January: the Global Intelligent Cities Fund, Thematica Fund and Green Bond Fund.

The Emerging Markets SRI Corporate Bond Fund and the Emerging Markets SRI Bond Fund are focusing on debt securities of global emerging market, in accordance with a sustainable and responsible investment strategy that considers various criteria regarding social and environmental policy, human rights and corporate governance, according to the prospectus.

Most curious is the Pet and Animal Wellbeing Fund, which the firm believes will attract Singapore investors. The product “invests in global equity markets with a focus on the evolution and development of pet and animal wellbeing”.

M&G’s local team

M&G Investments, which de-merged from parent Prudential in October to list on the London Stock Exchange, said it plans to set up a credit and alternatives origination team in Singapore and it appointed Matthew O’Sullivan as head of “Asia-Pacific origination”.

O’Sullivan has relocated from London, and he reports to Alex Seddon, co-head of private credit in London, the statement noted.

“The team will originate investment opportunities in the Asia-Pacific region, which will enable M&G to diversify its assets and expand its investment universe,” according to a statement from the firm.

The firm manages approximately AUM of £27.4bn ($35.4bn, as of 30 June 2019).

FSA contacted M&G Investments but it was unable to provide more details in time for publication.

Hong Kong market

Separately, two Ireland-domiciled passive funds from HSBC Global Asset Management — the China Government Local Bond Index Fund and Global Emerging Market Government Bond Index Fund — were just authorised by the Securities and Futures Commission (SFC), making them available to retail investors in Hong Kong, according to the regulator’s records.

Last month, three fixed maturity products from the HSBC GAM also received approval from the SFC.

Even though the Hong Kong market is in recession now, foreign firms’ enthusiasm has not faded away.

Earlier this month, Wells Fargo Asset Management received approval from the Hong Kong regulator for five Luxembourg-domiciled products.

In October this year, ten products from State Street Global Advisors were also approved by the SFC, FSA previously reported.



Part of the Mark Allen Group.