Published by Asia Asset Management – 16th Nov 2018
Kuala Lumpur-based Maybank Asset Management Group (Maybank AM) and Schroder Investment Management (Singapore) Ltd (Schroders Singapore) have announced a strategic partnership to develop specialist investment solutions in Malaysia.
The companies kicked off the deal with two new funds – the Global High Dividend Equity Portfolio and Global High Conviction Portfolio – aimed at high-net-worth investors in Malaysia.
Schroders Singapore, a subsidiary of London-based Schroders Investment Management, is the investment adviser for the funds, which are managed by Maybank AM. They were launched on November 13.
A discretionary portfolio is one that allows the fund manager to buy and sell securities without client consent, though they must still make decisions in accordance with a client’s stated investment goals.
Badrul Hisyam, chief executive officer of Maybank AM, says the company recognises the “growing demand for sophisticated, outcome-oriented global investment solutions, particularly among the high net worth community”.
“We are therefore committed to delivering a range of global investment strategies to cater to their evolving financial needs, through a pioneering tie-up with Schroders,” Mr. Badrul says in a statement on November 13.
According to Susan Soh, country head of Schroders Singapore, there is “no time frame” to the partnership.
“We intend to expand our partnership over the long term, to further co-develop innovative solutions catering to institutional investors and multi-channels across the wealth market in Malaysia,” Ms. Soh tells Asia Asset Management.
She says the two companies will jointly develop more investment solutions in 2019, including shariah-compliant funds.
Maybank AM had 33.7 billion ringgit (US$8.04 billion) of assets under management (AUM) as at September 30, 2018, while Schroders Investment Management had AUM of £389.3 billion (US$406.97 billion) as at June 30, 2018.
