Fri, Jul 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Two UK fund managers are to set up operations in Asia

Monday, October 24, 2011
Opalesque Industry Update – Two UK-based fund management firms are joining the fray and setting up operations in Asia to take advantage of emerging opportunities in the region, it was reported. According to reports from AsianInvestor.net, M&G Investments and Legal & General Investment Management are in different stages of putting up business in Asia.

According to the report, M&G Investments, the oldest and largest active investors in the UK which was founded in 1931 with an estimated $315bn in assets under management, is planning to set its foothold in Asia via Singapore. The firm is currently in the process of completing the recruitment of staff, leasing office space and transferring executives to the region.

For its part, L&G IM, the $510.2bn London-based institutional asset manager, is said to be in the early stage of its plan to put up a base in Asia. It is currently studying what strategy is appropriate for the region and is looking at Hong Kong and Singapore for its office. L&G IM is still mulling the kind of staff to comprise its future Asian office and the timescale moving forward.

Asian investors revealed that executives of both asset managers have already spent some time in Hong Kong and Singapore to conduct studies, particularly regulatory regimes and the various processes of conducting business in the region.

The past weeks, there had been tell-tale signs that the two asset managers are expanding outside of the UK. Two weeks ago, L&G IM , predicted that the UK’s top triple-A credit ratings would be downgraded over the coming years as the government struggles to meet its growth forecasts.

M&G said that investors are not likely to believe using the euro region’s bailout plan to insure Europe’s bond-insurance plan. It said investors do not think the plan cannot be trusted.

M&G London-based analyst Tamara Burnel was quoted as saying, “The idea that a sovereign-insurance policy provided by the very same, or, at best, related group of stressed sovereigns would provide reassurance to the market seems a ludicrous one.”
Precy Dumlao

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Opalesque Exclusive: ArbitrOption outperforms benchmarks, up 7.18% in H1[more]

    Komfie Manalo, Opalesque Asia: Independent registered advisor ArbitrOption breezed through the tumultuous Brexit referendum and outperformed its benchmarks. ArbitrOption was up 7.18% in the first half of 2016 compared to the S&P 500 which gain

  4. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  5. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New