Published by Fund Selector Asia – 26th Oct 2018
Fidelity hires Pinebridge’s APAC CEO; Eastspring creates CIO for Chinese equities role in Shanghai; Japan’s Line app launches theme-based investment service; ETF provider Van Eck launches Australia’s first China-focused ETF; Tokyo-based Sumitomo Mitsui partners with Factset to launch robotics product, and more…
People moves
Fidelity International has made two senior appointments in Asia. It has named Rajeev Mittal as managing director for Asia-Pacific (ex-Japan), while Derek Young will join as president for Japan. Both will assume their new roles in January. Mittal was previously Pinebridge Investments’ Asia-Pacific CEO for the last seven years. In his new role, he will oversee Fidelity’s distribution businesses in Asia (ex-Japan) and Australia.
Eastspring Investments has appointed Michelle Qi as Shanghai-based chief investment officer for Chinese equities. Qi will be responsible for the growth of Eastspring’s onshore equities investment offerings in China. The firm recently obtained a private fund management licence in China. Before Eastspring, Qi was Bank of Communications Schroder Fund Management’s chief investment officer for QFII and QDII. She has been with the firm for 13 years as an equity portfolio manager and previously worked at ING Barings Securities…
Product launches
Japan-based Line Financial Corporation and Folio, an investment service that offers theme-based investment products in Japan, has launched Line Smart Invest, which enables first-time investors to build wealth by investing in familiar themes through the Line messaging app. There are around 70 themes, including drones, young women’s trends, virtual reality and cosplay…
ETF manager Van Eck Investments has launched Australia’s first China-focused ETF that invests in A-shares. The product, the Van Eck Vectors China New Economy ETF, will track the CSI Market Grader China New Economy Index. The fund is a smart beta strategy that targets Chinese companies from the consumer discretionary, consumer staples, healthcare and technology sectors. The firm is one of a select few Australian managers to be granted a renminbi qualified foreign institutional investor (RQFII) licence, which enables the firm to invest in China A-shares directly…
Tokyo-based Sumitomo Mitsui Trust Asset Management has launched a thematic fund investing in global robotics and automation companies. The firm has worked with Fact Set to create the Global Robotics and Automation Index, which is a customised thematic index licenced to the Japanese firm. The creation of the index marks Fact Set’s first entry in the Japanese index mutual fund market…
South Africa-based Prescient Investment Management, which manages $6bn in assets, has launched a China equity Ucits fund. The fund makes use of a quantitative approach to seek long-term capital growth by investing primarily in China A-shares listed on the Shanghai and Shenzhen Stock Exchanges via its qualified foreign institutional investor (QFII) licence…
Fintech
Around 380 investors that participated in Singapore’s fintech festival’s deal-making platform, “Match”, have indicated intentions to invest up to a total of $2.6bn in Asean enterprises next year, and an additional $6bn earmarked over the subsequent two years, according to a statement from the Monetary Authority of Singapore. Match is a platform that curates and matches Asean-based enterprises with global private equity and venture capital firms. At least 17,000 matches were generated between the 380 participating investors and 840 enterprises. Around 60% of the intended Asean investment allocation was concentrated in fintech, healthcare and medical technology, as well as the information and communications technology sectors…
