The Australian fund house has poached from Deutsche Asset Management and Invesco to add to its private bank and intermediary sales teams for North Asia.
Tag : first state
In the second of two articles on the impact of Europe's incoming Mifid II rules, which will affect how fund managers pay for research, bank teams are seen to be under threat.
First State Stewart Asia has changed its approach to paying for research, in an early indication that asset managers in the region will not be immune from looming EU rules.
The Australian pension fund aims to internalise more investment and expand its active asset allocation programme. It has hired a new custodian and fund admin provider as part of this plan.
Alexis Ng is leaving the firm after five years. She headed Southeast Asia along with wholesale and institutional distribution across Asia. The firm has promoted two senior executives.
The fund house has hired two more institutional salespeople in Asia, as it looks to attract flows into its multi-asset strategies, including by starting to target retail investors.
KKR opens in Singapore; Perpetual brings in Michael Gordon; First State rehires in property securities; Axa IM appoints economist; Standard Chartered adds in transaction banking.
First State reshuffles responsible investment team, Dymon names CEO, Coutts adds in tax and wealth structuring, Amundi names VP of China institutional sales, and Hyperion hires a new dealer and analyst.
The fund manager is making significant changes to its trading set-up following the recent arrival of Todd Prado from Janus Capital to run the dealing desk.
Matt McKeith, former global head of equity dealing at First State, has been replaced by Prado, one of a raft of senior staff to leave Janus Capital in recent months.
Corporate governance is attracting greater attention in Asia, but it may take longer for investors to focus on environmental and social factors, says Amanda McCluskey of First State Investments.
Asset managers should not assume that China-derived inflows will continue at the same pace as they have in past years, agree the Asia heads of four big fund management firms.
