AllianceBernstein's Brad Gibson, CLP Holdings' Francis Ho and APG's Gregory Suen discussed investor appetite, greenwashing and taxonomies at FA's China Fixed Income Summit.
The Dutch pension manager expanded its partnership in the Chinese market in 2019. The latest available data shows the portfolio is growing and doing well.
APG’s partnership with E Fund Management has produced tangible results
Any business venture will ultimately be judged by what it yields. In the case of the almost five-year partnership between the €568bn APG, Europe’s biggest pension provider, and E Fund Management, one of China’s largest asset managers with CNY2trn (€260bn), the experience so far has been fruitful.
APG deputy CIO Ronald van Dijk, speaking in early April, points to annual 10-12% above-index return for the flagship concentrated equity strategy, which invests in about 27 mainland China A-share stocks.
APG and E Fund signed their agreement in 2016. Unlike other joint ventures between Western and Chinese asset management entities, the deal did not involve one taking an equity stake in the other.