Aberdeen Asset Management has been awarded a US$200m emerging markets (EM) corporate bond mandate by Danish pension fund, PKA. PKA is an administration company for five occupational pension funds encompassing healthcare, office and social workers with 250,000 members in aggregate and total assets under management of US$34.5bn.
“EM corporate bonds have come into their own as a stand-alone asset class,” said Brett Diment, head of EM bond and sovereign debt at Aberdeen.
“Furthermore the fundamental case for developing economies remains compelling. They are healthier and less leveraged than developed countries, as are the companies in them. Valuations, especially considering how strong emerging economies have been, are still attractive, with good opportunities in both investment grade and high yield.”
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.