AAM new product roundup

AAM new product roundup

09 April 2018
Category: News, Asia, Australia, China, Global, Hong Kong, India, Japan, Malaysia, Philippines, Singapore, USA, Indonesia, North America
By Asia Asset Management

Nasdaq rolls out new investment product information service

Nasdaq Inc launched the Nasdaq Fund Network (NFN) on March 28 in order to bring greater efficiency and transparency to global financial markets.

The NFN is a global investment product information service that provides investors around the world with daily access to valuations for financial instruments listed on Nasdaq, including mutual funds, money market funds, unit investment trusts, annuities, and structured products.

The NFN lists and distributes performance data for 35,000-plus investable products to more than one million investors on a daily basis.

Public Mutual launches innovative shariah-compliant fund

Public Mutual, Malaysia’s largest private unit trust company, has launched a shariah-compliant fund that invests in both equities and sukuk or Islamic bonds.

The new Public e-Islamic Flexi Allocation Fund will also invest up to 30% of its net asset value in shariah-compliant foreign assets in North Asia, Southeast Asia, Australia and other permitted markets, the company says in a statement on April 3.

Units in the fund are being offered at 25 sen (US$0.06) each during the 21-day initial offer period from April 3-23, 2018.

Public Mutual Chief Executive Officer Yeoh Kim Hong says the fund has a flexible mandate that allows its managers to capitalise on investment opportunities, and “ride on promising trends and investment themes in both domestic and selected foreign markets”.

“Hence, the fund is suitable for medium to long-term investors seeking capital growth through a flexible portfolio allocation across shariah-compliant equities and sukuk,” she says.

Public Mutual had assets under management of 82 billion ringgit (US$21.21 billion) as at end-March 2018.

Australia’s MIRA closes second Asian infrastructure fund at US$3.3 billion

Macquarie Infrastructure and Real Assets (MIRA), a division of Australia’s Macquarie Group, has closed its second Asian regional infrastructure fund at the maximum, or hard cap, of US$3.3 billion, more than half of which has already been committed to projects in Asia.

The Macquarie Asia Infrastructure Fund 2 (MAIF 2) attracted investment commitments from a “diverse group of returning and new investors across Asia Pacific, North America, Middle East and Europe”, the company says in a statement on April 3.

Over $1.7 billion of MAIF 2 has already been “committed across toll roads, renewables and petrochemical storage assets in India, the Philippines, Singapore and China”, MIRA says, without providing specific details.

The balance of the fund will be invested “depending on the opportunities”, a person familiar with the matter tells Asia Asset Management, adding that the mandate allows it to invest in the same markets as the first fund, namely Greater China, India, South Korea, Australia, Japan, the Philippines, Indonesia, Malaysia, New Zealand, Singapore and Thailand.

MIRA’s first Asian infrastructure fund closed at $2.3 billion in early 2016, and is now fully deployed across seven countries in Asia Pacific, the company says.

OPIM partners with Longrising to launch its first offshore fund

Hong Kong-based asset manager OP Investment Management Ltd (OPIM), in partnership with Chinese private fund firm Longrising Asset Management Co Ltd (Longrising), announced the launch of its first offshore fund on April 4.

The new Longrising Prosperous China Fund is a Cayman-domiciled hedge fund for professional investors only. It will replicate Longrising’s strategy in the China A-share market partially, and deploy a top-down, long/short strategy, mainly investing in China-related equities listed in China, Hong Kong, and US stock markets to achieve long-term capital appreciation under a controllable risk level.

According to OPIM, the investment process begins with reviewing the economic cycle to adjust overall exposure, which allows the fund to enjoy the growth while controlling the downside risk. Then, with in-depth thinking of the logic beneath various economic cycles, it searches for, and increases exposure to, promising sub-sectors.

Finally, it will select high conviction companies under each sub-sector and achieve diversification of the portfolio. The fund will also utilise a wide range of instruments to control risks and enhance returns.

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