UOB Asset Management launches first Singapore-focused ESG fund dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.
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<li><span>Index tracks the performance of APAC-listed high-yield REITs with positive environmental attributes based on the GRESB assessment framework </span></li>
<li><span>The launch comes as global investors increasingly consider environmental factors in investment decision-making while continuing to hunt for yield</span></li>
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Global banking leaders targeting growth in SE Asia 12:00 | 23/02/2021
Global banking leaders targeting growth in SE Asia, illustration photo
HSBC will be naming a new head for its Singapore operation, along with its expansion plan in the region. Europeâs largest lender is preparing to announce the outcome of a strategic review next week, alongside its full-year results.
According to Bloomberg, HSBC is seeking to gain a bigger slice in Southeast Asia where it has been struggling to compete with dominant players such as DBS Group Holdings and Standard Chartered. âHSBC wants to further raise its capability and presence in South Asia, and Singapore is central to this drive and ambition,â said Peter Wong, HSBCâs top executive in Asia.
Deal expands company’s network to nine markets across Asia
19 Jan 2021 |
UOB Asset Management (UOBAM)
is strengthening its presence in the Asean region through the completion of its acquisition of VAM Vietnam Fund Management Joint Stock Company (VAM VN). With the latest addition of Vietnam to its regional network, UOBAM now has presence in nine markets across Asia – Brunei, mainland China, Indonesia, Japan, Malaysia, Singapore, Taiwan, Thailand and Vietnam.
Founded in 2009, VAM VN provides investment management advisory and services to institutional and individual investors through solutions such as corporate structured funds and segregated accounts. The firm will be renamed UOB Asset Management (Vietnam) Fund Management Joint Stock Company, subject to regulatory approval.
Singapore’s UOB Asset Management Ltd has completed its S$6.7 million (US$5.04 million) acquisition of VAM Vietnam Fund Management Joint Stock Company, a move that expands its operations to nine countries in Asia, including China, Indonesia, Japan, Malaysia, Taiwan and Thailand.
The acquisition was announced on December 2, 2019. The Vietnamese firm, which had 114 billion dong ($4.95 million) of assets under management as of end-October 2019, will be renamed UOB Asset Management (Vietnam) Fund Management Joint Stock Company.
Thio Boon Kiat, group chief executive officer of the Singapore asset manager, describes Vietnam as a “rising star” in Southeast Asia, and says the company can now offer its suite of solutions to institutional and retail investors there.