STORIES YOU MAY HAVE MISSED THIS WEEK
People moves
Barings has appointed John Ratcliffe in the newly created role of head of Asia-Pacific real estate, according to a statement from the firm. Based in Sydney, Ratcliffe will work alongside Duncan Robertson, Barings’ head of Asia-Pacific and head of global business development. He will be responsible for sourcing investment opportunities in the region, with an initial focus on Australia and Japan before exploring opportunities in China and other geographies. Ratcliffe will report to Charles Weeks, head of Europe and Asia-Pacific real estate equity. Ratcliffe was from Challenger Real Estate, a division of Australian-listed Challenger, where he spent 12 years as executive director of transactions and capital raising…
Capital Group has appointed Jessica Ground as London-based global head of ESG. Ground, who will assume her role in September, will be responsible for incorporating the firm’s ESG approach into its investment process globally. She will work with teams across investment groups, distribution, marketing and technology. Ground was at Schroders, where she was the firm’s global head of stewardship. During her tenure at Schroders, she also served as a fund manager within the firm’s UK equities team…
Replacing Ground at Schroders is Andy Howard, who has been promoted to the role of global head of sustainable investment, according to a Schroders statement. Howard, who will retain his existing responsibilities in sustainability research, will also oversee the sustainable investment team’s stewardship activities. He will report to Charles Prideaux, global head of investment. Howard joined Schroders in 2016 as head of sustainable research.
MSCI has appointed Julia Wu as head of Greater China client coverage. Based in Shanghai, Wu will be responsible for growing the firm’s presence across key business areas and develop client relationships in the region. She will report to Jack Lin, head of client coverage for Asia-Pacific. Before MSCI, she was head of corporate banking and served as China president and board of director at JP Morgan…
Business moves
UBP has formed a strategic partnership with Bell Asset Management, an Australia-based global all-cap and small- and mid-cap equity specialist manager, according to a joint statement from the firms. The partnership will enable UBP clients to access Bell AM’s capabilities, while Bell AM will be able to leverage on UBP’s distribution channels in Europe, Middle East and Asia to expand their footprint in those regions. The move follows after UBP recently opened an Australian branch, through its Hong Kong subsidiary, to support the new partnership. The entity is headed by Olivier Marion, who has been appointed head of business development for Australia…
Nikko Asset Management has listed this week the Nikko AM E-Games Active ETF on the Hong Kong Exchange, according to a statement from the firm. “With a total revenue that exceeds the combined revenues of both the movie and music industry, e-games is the new entertainment medium,” Phillip Yeo, joint global head of ETF business at Nikko AM, said in the statement. The firm also says that it is the first actively-managed equity ETF in Asia. As of the end of December, the firm’s ETF business had grown to at least $81bn, representing a 31% year-on-year growth from $62bn at the end of 2018…
Hedge funds
Hedge funds operating in Hong Kong are not leaving the territory, said Jack Inglis, CEO of the Alternative Investment Management Association (AIMA). “The details of the new security laws are not yet known, and our Hong Kong members are telling us they are taking a wait-and-see approach. It would never be an easy decision to relocate,” he said in a statement. He noted that while hedge funds in the SAR are seeking licences to operate in Singapore, they are doing so for expansionary reasons. “Having offices in two of the region’s biggest financial centres greatly enhances the talent pool to draw from. We have also seen some firms with headquarters in Singapore making the opposite move for the same reasons….”
The global hedge fund industry posted an average of 2.59% gains in May, according to an Evestment report. However, year-to-date performance continues to be in negative territory. The report noted that around one-fourth of the funds have been providing positive returns during the year, with those funds having average returns of 20.25%…
