Thomas Ochensberger

Our Deputy CIO and Head of Fixed Income, Angus Hui was on DBS Bank’s “Asia Macro Mid-Year 2024 Outlook: Resiliency Amidst Volatility” panel session. He provided his perspectives on the outlook for the fixed income markets, and insights on how investors in Asia are positioning themselves for income and alpha opportunities ahead. #fixedincome #interestrates #income #opportunities #Asia Taimur Baig Archana Parekh Zhen Li

38

1 Comment

{Prof Invest Only} We are delighted to share that Mirova has been named Best Fund Provider – ESG/Sustainable Equity at the Asian Private Banker Asset Management Awards for Excellence 2025 ⭐ Category: Best Fund Provider – ESG/Sustainable Equity Winner: Mirova Asian Private Banker Asset Management Awards for Excellence 2025: https://bit.ly/49ynt3V Award methodology available: https://bit.ly/3D9GtcM References to an award, label or ranking are not an indicator of future performance and do not constitute a fund offering. The designation “Best Fund Provider” is the award name only given by Asian Private Banker and is not indicative of the performance or returns of any funds.

36

1 Comment

THE TALENT GAP IN ESG INTEGRATION Many firms are striving to integrate ESG considerations across investment processes. But this is not a one-size-fits-all journey. While sectors like renewables and climate-focused funds naturally align with sustainability, traditional asset classes—mainly listed equities—face unique challenges in finding the right resources to support this transition. The core issue? There is a talent gap in ESG expertise. We need professionals bridging finance and sustainability, translating between financial, strategic, and operational teams to make ESG efforts actionable and embedded within decision-making. Individuals fluent in both worlds are essential to realising the full value that ESG can bring. This isn’t just a challenge for one organisation; it’s a systemic issue across the industry. Demand for skilled, cross-functional ESG professionals is soaring, yet a limited talent pool can effectively integrate sustainability into finance. The opportunity is immense: If you’re an ESG professional with a background in finance or a finance expert looking to transition into sustainability, now is the time to make a meaningful impact. Neil Farrell Tatiana Dupont Matt Baty Stephanie Thompson Sashwot Kharel Farrell Associates | Certified B Corp™ #ESG #Sustainability #TalentGap #Finance #Hiring #Investment #SustainableInvesting #Impact #PrivateMarkets #PrivateEquity #PrivateDebt #AlternativeInvestments

48

7 Comments

Between a rock and a hard place: HKEX's balancing act Hong Kong's capital markets remain an attractive place for PRC companies to raise funds from international investors, including through IPOs. Recent indicators and client requests suggest that after a somewhat slower period, interest in and demand for HK IPOs are picking up. Underwriters and potential issuers will likely remain cautious until after the US elections. However, as the US-China geo-political and geo-economic relationships are expected to remain tenuous, PRC companies and investors are exploring options beyond western capital. The HK IPO process can thus serve as an important indicator of how the financial sector and other market participants address the existing and future US-China conflict of laws, particularly around international sanctions and PRC countermeasures. Despite being stuck between a rock and a hard place, the HKEX has been able to strike a creative – albeit some might say, timid – balance between international banks' commitment to sanctions compliance and domestic rules. 1. Sanctions opinion This balancing act relies on the requirement for potential issuers to provide a sanctions memo from a qualified counsel. We have supported a number of recent successful IPOs and pending processes. We can therefore attest that HKEX takes this sanctions clearance very carefully – often through a number of detailed follow up queries and clarifications – before the disclosure terms are finalized. A legal opinion must address whether business activities within the track record period (3 years): (i) are subject to or may have violated any sanctions and export controls laws in applicable jurisdictions; and (ii) will result in any material sanctions risks to itself or other stock exchanges. Dealings in high-risk countries like Iran and Russia should therefore be carefully reviewed and sanctions risks should be efficiently mitigated. 2. Sanctions compliance The legal opinion is a "live" document and delays in listing will require the analysis to capture an updated track record period. This requires an applicant to continuously comply with ever-changing sanctions regimes. Indeed, the HKEX recommends all applicants monitor their business for exposure to sanctions risks during and after their listings. While international sanctions compliance might not always be a top priority, any company with HK IPO aspirations would be well-advised to enhance its sanctions compliance early to save legal fees and IPO delays. 3. Collaboration with regulators Listing applicants should also be ready to answer questions from the regulator and be flexible when circumstances change – eg SenseTime, a facial recognition developer, removed US investors from its IPO after being added to the CMIC List. Our sanctions and our IPO teams are happy to address any questions – Frank Bi, Li Jiang, Tom Cummins, Dr. Dr. Claus Zimmermann, Vicki Tang, Kenneth Lee

23

Insights from Ahmed Husain, Global Head of Family Offices at Neuberger Berman, on how billion-dollar single-family offices are navigating today’s complex investment landscape! His session at the Aikya Connect Family Office Forum Singapore 2024 shed light on the strategies shaping global asset allocation trends in the single-family office sector. #AikyaConnect #FamilyOffices #NeubergerBerman #InvestmentStrategies #GlobalWealth #SingleFamilyOffice #AssetAllocation

12

▶ Japan Exchange Group CEO Emphasizes Dialogue with Shareholders In a recent symposium, Hiromi Yamaji, CEO of Japan Exchange Group (JPX), continued to stress the importance of increased dialogue between public companies and their shareholders in #Japan. As #corporategovernance reforms accelerate in the country, Yamaji highlighted the need for companies to regularly update their #shareholders on their progress towards improving corporate value and share price, two key drivers of these reforms. The Tokyo Stock Exchange, which is owned by the JPX, has taken several steps to enhance corporate governance, including streamlining the Prime section by eliminating around 20% of companies listed as such, raising the required standards for inclusion in the #TOPIX index, as well as requiring more independent directors on company boards. These initiatives, some analysts observe, have been an important factor in a significant increase in the benchmark Nikkei Stock Average. Yamaji acknowledged that while progress has been made, there is still room for considerable improvement. He urged companies to focus on concrete goals and communicate their plans ever-more effectively with shareholders. Notably, the TSE is also implementing measures to further enhance corporate governance, such as requiring Prime-listed firms to make disclosures in both Japanese and English.

8

Thank you CNBC International and Emily Chan Tan for featuring me on the Capital connections yesterday, right at the moment of the crucial rate hike decision by the BoJ. # Hawkish BoJ leads to a reversal in net short position in the Yen, but this is unlikely to last long. # In the near term, US data holds the key for the Yen. # In the medium term, a stronger Yen requires either strong economic growth resumption in Japan, a much weaker relative growth outlook in the US , or an extremely dovish Fed; none of which we expect. # The carry trade is taking a breather but not over—rate differentials between the US and Japan remain meaningful, and there's a lack of alternatives for currency traders (Yen implied yield will be 90bps lower compared to the Swiss Franc). # For the Japanese economy, resumption in consumption is key for growth, inflation, and currency.

83

8 Comments

[INTEGRATING PHILANTHROPY: A HOLISTIC APPROACH TO WEALTH MANAGEMENT] #PhilanthropyWorkshop Li Foundation chanced upon a sharing session with Mr. Anthony Gao, Head of Philanthropy Services at Pictet Wealth Management Asia during one of his trips to Singapore. Currently based in Hong Kong, Mr. Gao is a seasoned professional with a diverse background in prestigious organizations such as the Bill & Melinda Gates Foundation, where Lionel met Mr. Gao for the first time in Seattle. Mr. Gao shared with us how #AsianPhilanthropy is evolving. In Asia, there exists a longstanding tradition of charitable giving and this is deeply rooted in the region's diverse cultures, political systems, and religious beliefs, making philanthropy in Asia uniquely distinctive. A few key trends observed includes philanthropists becoming more transparent and strategic in their giving. Strategic philanthropy acknowledges that despite its growth, philanthropy falls short in addressing global challenges. This approach, favoured by younger, next-generation philanthropists, emphasizes high- impact strategies and innovative social investment tools. With that, it leads to the other trend of greater collaboration between philanthropists which is crucial for maximizing impact and addressing complex global challenges effectively. From this conversation, #LIF’s approach in philanthropy is reinforced as we continue to seek greater collaboration with like-minded philanthropists in what we do. Mr. Gao is also a core member of #ImpactSG, a Community of Changemakers. ImpactSG was conceived in 2022 in response to Forward SG, and was launched as a ground-up initiative in 2023 to involve and activate the expanding community of Family Offices and High Net Worth Individuals to contribute both financially and non-financially to Singapore and the surrounding region. ImpactSG is part of the Asia Centre for Changemakers, a non-profit that is launched by Temasek Trust and the Wealth Management Institute.

5

A refreshing article from Shuli Ren. A must read. I believe that Singapore and Hong Kong must work hand in hand to serve as the financial twin pillars of Asia. While Hong Kong helps Southeast Asia springboard to mainland China or North Asia, Singapore serves as a springboard for us into Southeast Asia. #singapore #hongkong #finance #business #economy #future

51

9 Comments

📰 Check out my latest article on Decarbonization Partners Fund I Inaugural Launch. This ambitious initiative, a joint venture between BlackRock and Temasek, successfully raised $1.40 billion, aiming to accelerate the global shift toward a net-zero economy. Discover why the fund is strategically focused on late-stage venture capital and early-stage growth capital. #Decarbonization #Sustainability #netzero #energyinvestments #SustainableInvesting #ESG #ImpactInvesting #GreenTech #VentureCapital

20

4 Comments

As a market, Singapore tends to get overlooked by its larger US and North Asian peers. However, interest is returning. There are many high-quality, undervalued companies to discover. A number of these companies are transforming to generate better returns for shareholders. I had the opportunity to moderate a panel with SGX Group and veteran journalist Ven Sreenivasan from The Straits Times to a packed house of clients and investors on "Discovering the Underdiscovered". The highlight was sharing thoughts with three transformational CEOs representing close to S$6 billion of market cap on creating value for multiple stakeholders. There was much to cover with Kerry Mok of SATS Ltd., Chee Min Kong of Centurion Corporation Limited, and Young Jiunn Runn of Beng Kuang Marine Limited. Financials and a few industrial stocks have driven the current rally in Singapore. However, if sentiment strengthens, the rally could broaden, and investor attention will increasingly shift towards good-quality laggards. Straits Times coverage: https://lnkd.in/gkiDsYgp #Maybank #Equityresearch #valuestocks #SGX #investmentstrategy #straitstimes Aditya Laroia

76

4 Comments

Angus Hui, our Deputy CIO and Head of Fixed Income was on the CIO Outlook panel at Fixed Income & FX Leaders Summit APAC 2024. He articulated his China macro views, as well as how the US interest rate outlook, yield curve dynamics, and implications on the FX markets are likely to unfold under Trump 2.0. More importantly, he highlighted where the big opportunities are, and how investors could navigate the changing environment to participate in these alpha opportunities.   #interestrates #fixedincome #alpha #opportunities #china #tariffs   Sanjay Guglani Ana Isabel Gonzalez Encinas Stephen Fisher

60

Paul Lee: «Whoever Pays My Fee is My Boss»: Paragon Capital Management CEO Paul Lee spoke to finews.asia about the advantages of external asset managers for clients and relationship managers, highlighting alignment between the two via fee-based advice. #ParagonCapitalManagement #externalassetmanagers

3

1 Comment

Perhaps encouraged by the slow but apparent move of some #Japanese companies to improve #shareholdervalue by divesting from some of it cross-shareholdings (https://lnkd.in/eX3Q2G_5), KKR is setting its sights on #Japan as a pivotal market for its ambitious goal to double its #aum in the next five years. Although the global investment firm has identified the Asia-Pacific region in general, which has contributed to 39% of its $47 billion investments since 2005, as key to this strategy, it’s Japan that stands out for KKR due to opportunities to buy undervalued but quality businesses at bargain prices. With successful investments like Kokusai Electric and Koki Holdings (former Hitachi Koki), KKR sees potential due to Japan's low #valuations and massive room for operational improvements - divesting from cross-shareholdings, amongst other possibilities - in its conglomerates. Moreover, KKR's interest in Japan is buoyed by a lack of competition for deals, with #alternativeassets comprising a mere 9% of the market, compared to 26% in North America and 16% in Europe. The firm is also capitalising on trends in Japan's nearly $3 trillion #insurance market, the world's second largest. KKR points to factors such as an aging population and sustained low interest rates, driving demand for retirement products, which is evident from the significant sales of annuities in Japan compared to the U.S. #kkr #japanesecompanies #japanbusiness #apac #asia

7

HKEX REACHES AGREEMENT WITH SSE AND SZSE TO EXPAND SCOPE OF ELIGIBLE ETFS UNDER STOCK CONNECT Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce on Friday that it has reached an agreement with Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) to expand the scope of eligible exchange-traded funds (ETFs) under Stock Connect. The eligibility criteria for ETFs for both Northbound and Southbound trading, including the assets under management requirement and the index weighting requirements, will be relaxed to support the continued development of the mutual market access programme. This expansion will further enrich investment options and enable Stock Connect investors to allocate assets in both Hong Kong and Mainland China markets in an efficient and cost-effective way. Further details of the expansion can be found in the circular published by HKEX today. The three exchanges will work closely on the business and technical preparations for the expansion, which is expected to take effect approximately three months from the date of this announcement. #ETF #StockConnect #HKEX #SSE #SZSE

2