FROM THE PRESS RELEASE DESK THIS WEEK…
Business moves
Janus Henderson has received approval from Hong Kong’s Securities and Futures Commission to offer its Biotechnology Fund and the Global Sustainable Equity Fund to retail investors in the SAR, according to the regulator’s records. In September, the thematic products were also made available to Singapore’s retail market, which has been receptive to several new thematic products that have been launched in the Lion City…
East Capital’s China Environmental Fund will be merged into the firm’s Global Emerging Markets Sustainable Fund on Monday, according to a statement from the firm. The firm said that following a review of the long-term viability of the fund, an analysis showed that by merging the two strategies, investors will continue to have access to Chinese clean-tech stocks while also benefitting from “strong performance” in broader markets…
Singapore-based Maitri Asset Management has launched its first fund, which invests in multiple asset classes globally, including fixed income, currencies, commodities and equities. The Sustainable Multi-Asset Absolute Return Strategy Fund, which is only available to accredited investors, includes ESG factors in its investment process to reduce investment risks. Maitri AM, which focuses on responsible investments, was founded in 2015 first as the Tolaram Group family office…
Global real estate investment manager La Salle Investment Management has launched the La Salle Japan Property Fund, which is a private open-ended core real estate product. The fund will invest in properties in Japan and was launched with $560m of initial equity commitments from Japanese investors along with loans extended by Japanese financial institutions. The fund aims to grow to $1.8bn in three years and $2.7bn in five years. The fund held its initial closing with commitments from Japanese investors and will target capital from international investors in the future…
People moves
Nuveen, the asset management arm of the Teachers Insurance and Annuity Association (TIAA), has promoted its president, Jose Minaya to CEO, effective in January. He replaces Vijay Advani, who has been named as Nuveen’s executive chairman. As CEO, Minaya will lead the firm’s day-to-day operations, including oversight of investment management teams and client businesses. Meanwhile, Advani will focus on various growth areas, including impact and ESG investing, as well as growing Nuveen’s business and investment capabilities outside the US. The firm manages around $1trn in assets globally and has operations in 24 countries…
Hedge funds
Investors globally have redeemed around $6.2bn from hedge funds last month, which marks the eighth consecutive month of net outflow, according to an Evestment report. This brings year-to-date redemptions to $87.9bn. Long/short equity funds led the outflows this year at around $40.9bn, followed by macro strategies ($23.2bn). On the flipside, event-driven and MBS hedge fund strategies had the highest net inflows…
