Pixabay CC0 Public Domain. HSBC AM incorpora un equipo especializado en tecnología climática y prepara un primer fondo de capital riesgo
HSBC Asset Management has hired a Climate Technology (Climatech) team as part of its strategy to expand direct investment capabilities in alternatives. The new team will develop a venture capital investment strategy providing clients with opportunities to invest globally in technology startups who are addressing the challenges of climate change.
In a press release, the asset manager revealed that the strategy will focus on companies across the energy, transportation, insurance, agriculture and supply chain sectors. The first fund is planned to be launched before the end of the year with an intended cornerstone investment from HSBC.
The team will report to Remi Bourrette, Head of Venture and Growth Investments, who arrived at the firm last year from HSBC Global Banking and Markets. As for the new recruits, Christophe Defertjoins as Head of Climate Technology Venture Investments. He has over 16 years’ experience in investment banking, private equity, corporate M&A, energy contracts and venture capital. Before joining HSBC Asset Management, he spent 10 years at Centrica where he most recently built and led Centrica Innovations’ Venture effort globally.
Also Michael D’Aurizio has been appointedInvestment Director, Climate Technology. Hehas over 10 years’ experience in power, utilities, and clean energy including business strategy and venture capital, and previously led Centrica Innovations’ US activities.
“Technology will play a major role in enabling the energy transition, funded by public money, private capital and philanthropic commitments like HSBC’s Climate Solutions Partnership with the World Resources Institute and WWF. The appointment of this team will allow us to provide clients with early exposure to sectors which are just emerging as such, but will become major sources of financial and environmental value over the decade”, Joanna Munro,Global CIOatHSBC Asset Management, commented.
In 2020, HSBC Asset Management set out its strategy to re-position the business as a core solutions and specialist emerging markets, Asia and alternatives focused asset manager, with client centricity, investment excellence and sustainable investing as key enablers. The firm currently manages 45 billion dollars in alternatives strategies.
Foto cedidaGregor Hirt, nuevo director de inversiones global de multiactivos de Allianz GI.. Gregor Hirt, nombrado director de inversiones global de multiactivos de Allianz GI
Allianz Global Investors has announced in a press release the appointment of Gregor Hirt as Global CIO for Multi Asset as of July 1. He will be based in Frankfurt and report to Deborah Zurkow, Global Head of Investments.
In his new role, Hirt will work closely with the firm’s Multi Asset experts in Europe, Asia and the US to ensure Allianz GI continues to strategically develop and grow its Multi Asset business in areas of client demand, including risk management strategies and multi asset liquid alternatives.
Hirt brings 25 years of experience in Multi Asset investing from both a wealth management and asset management perspective. He joins from Deutsche Bank, where he has been Global Head of Discretionary Portfolio Management for the International Private Bank since 2019. Prior to that, he was Group Chief Strategist and Head of Multi Asset Solutions at Vontobel Asset Management, having also gained strong experience at UBS Asset Management, Schroders Investment Management and Credit Suisse.
“Allianz GI has a rich heritage in Multi Asset investing, with one of the strongest teams in the industry. Marrying the best of our deep expertise in both quantitative and fundamental approaches, while integrating ESG considerations, will be pivotal in ensuring that our offering is as successful for clients in the next generation as it has been in the past. With just the right mix of leadership experience, market insight and client understanding, we are delighted to be welcoming Greg. As well as significant experience across asset management and wealth management, he has deep appreciation for quantitative discipline while having a background in fundamental analysis”, highlighted Zurkow.
Allianz GI currently manages 152 billion euros in Multi Asset portfolios for retail and institutional clients around the world. AllianzGI’s Multi Asset investment approach combines a systematic assessment with the insights of fundamental analysis with the dual objective of mitigating risks and enhancing return potential for clients.
Pixabay CC0 Public Domain. Los gestores siguen siendo optimistas sobre los lanzamientos de megafondos en China
China is a major player in the global fund industry. Blockbuster fund initial public offerings (IPOs), which have seen popular new funds being oversubscribed and sold out within a day after sales commence, have become more common in the country over the past few years. While short-term investor sentiment has been hurt by the recent market downturn, Cerulli Associates points out in its latest analysis that the trend could resume over the long run.
China’s mutual fund assets under management, including that of ETFs, recorded robust year-on-year growth of 37.5% to reach 19.7 trillion renminbi (3 trillion dollars) in 2020. Total assets garnered through mutual fund IPOs reached 3.2 trillion renminbi, double the size in 2019. The average IPO volume of new funds also improved to 2.2 billion renminbi, compared to 1.5 billion in 2019.
Local media reports show that in 2020, over 100 new funds were sold out within one day after subscriptions commenced, and 15 of these IPOs successfully garnered assets of over 10 billion renminbi. “The trend continued in the beginning of 2021, according to China Fund News reports, when a total of 122 new mutual funds were rolled out in January, raising assets of almost 500 billion renminbi, the second largest monthly amount for IPO assets recorded in the market”, Cerulli says.
Among the factors behind blockbuster new fund launches the firm identified are optimistic investor sentiments, star managers with good track records, and sufficient liquidity in the market. Over the past few years, the Chinese government has introduced a series of monetary easing measures to stimulate the economy following the U.S.-China tensions and COVID-19 pandemic. “Part of the money supply went to the real economy and real estate market as traditional long-term investment vehicles for local residents, while the rest was available to asset management products. This created plenty of opportunities for mutual funds, as other investment products in general are not attractive enough”, they add.
In this sense, some managers Cerulli spoke with said that the fast-track fund approvals introduced by the China Securities Regulatory Commission (CSRC) have also facilitated their new fund launches. Extensive marketing efforts and digital distribution have also supported mega fund launches.
Following this year’s Chinese New Year holiday, the stock market plunge dampened investors’ interest in new fund launches. However, despite the potential challenge to fundraising, the firm’s analysis shows that managers focused on the long term are still upbeat about the industry’s prospects, and are “confident that mega fund launches will resume if the stock market turns bullish again”.
In Cerulli’s view, mutual funds’ long-term growth prospects should continue because profits earned by listed enterprises which survived COVID-19 will eventually enter the stock market, and funds have an inherent advantage over other financial products.
“The cooling of market sentiments is normal, and it is also an opportunity to educate small-ticket young investors who have not experienced many market cycles. As long as the recovery does not take too long and a bear market is avoided, the long-term outlook for mutual fund IPOs should remain positive”, said Ye Kangting, senior analyst at the firm.
Foto cedidaNick Maroutsos, actual responsable de bonos globales y cogestor de las estrategias de retorno absoluto y renta fija multisectorial global de Janus Henderson. . Janus Henderson prepara a su equipo de bonos globales ante la salida de Nick Maroutsos
Janus Henderson has announced succession plans for its Global Bond team due to the departure of Nick Maroutsos, Head of Global Bonds and Co-Portfolio Manager of the Absolute Return Income and Global Multi-Sector Fixed Income related strategies. In a press release, the asset manager has revealed that he will be leaving the firm next October “to take a career break”.
As part of its succession planning, during the next six months, Maroutsos will work closely with the global bonds team “to ensure a smooth transition and handover of responsibilities“.
Effective October 1, 2021, the team will be left under the leadership of Jim Cielinski, Global Head of Fixed Income. The firm has highlighted that the following portfolio managers will continue to work in their current roles and will maintain the investment processes that have been “so impactful” for their clients to date. In this sense,Jason England and Daniel Siluk will remain co-portfolio managers on the Janus Henderson Absolute Return Income strategy and related funds. Also Andrew Mulliner,currently Head of Global Aggregate, will continue to serve in this role and oversee the multi-sector global bond portfolio strategies.
“While my decision to take a career break is bittersweet, I have the utmost confidence in the team and their investment process. Having worked closely with the team for many years, I have no doubt their talent and unwavering dedication to serving our clients will position them to generate solid returns. I thank the team and senior management for their trust over the past 15 years and will miss their professionalism and friendship”, Maroutsos said.
Meanwhile, Cielinski commented that their client commitment “has always been and will continue to be to seek to deliver dependable investment outcomes” to support their clients in achieving their long-term financial goals: “As a firm, we take a collaborative team-based approach focused on growing talent from within the teams, which allows for robust succession planning and a seamless transition for clients when we have personnel changes”.
He also thanked Maroutsos for his contribution to Janus Henderson, his “unwavering commitment” to clients, and his involvement “in developing the next generation of investors”. “Our dedicated Absolute Return Income team consists of thirteen people, of which Nick is one, split across the US and Australia. Given the lengthy transition period, and the breadth and depth of the experienced team, we are confident that this will be a smooth transition for our clients. Our global bonds effort has been and remains a strategic priority for the firm, and we will continue to invest in our team”, he concluded.
Janus Henderson’s Global Bonds team is built on collaboration across multiple geographies and anticipates no disruption to its cohesive global approach. Further it ensures global coverage across all major markets allowing for broader, more open collaboration, and increased idea exchange.
Pixabay CC0 Public Domain. Jupiter lanza un fondo global de renta variable con su socio estadounidense NZS Capital
Jupiter has launched this week the Jupiter NZS Global Equity Growth Unconstrained fund SICAV, a global portfolio of companies that can adapt and thrive in a world dominated by disruption. The fund is managed by Brad Slingerlend and Brinton Johns, portfolio managers at NZS Capital, Jupiter’s US-based strategic partner. It invests in companies that maximize Non-Zero-Sum, or win-win, value for the benefit of all stakeholders, including customers, employees, society, and the environment.
In a press release, Jupiter has highlighted that “with extensive expertise gained from a combined total of 70 years of investment experience, the NZS team has a track record of generating significant outperformance for investors”. Based on the science of Complex Adaptive Systems, the NZS investment philosophy seeks adaptable and innovative companies that will successfully navigate the increasing pace of disruption as the global economy transitions from analogue to digital.
The asset manager believes that, while the technology sector is driving innovation today, in the coming years, the wave of disruption will impact every sector across the economy including industrials, consumer, financials, energy, and healthcare, and weightings in the strategy will evolve over time to reflect these changing dynamics.
“The team believes that the Information Age affords an unprecedented level of transparency, and companies still using the traditional methods of high barriers, wide moats, and information hording to extract value from customers are losing ground to adaptable companies that maximize Non-Zero-Sum, or win-win outcomes”, they add.
Adaptability for a disruptive future
At the heart of the NZS Complexity Investing philosophy is constructing a portfolio that balances two sets of companies the team calls “resilient” and “optionality”. In this context, resilient companies are those able to adapt and evolve to disruption and changing conditions, while optionality companies are adaptable, but earlier in their lifecycles with high asymmetry.
The fund will hold 50-70 stocks: the resilient portion will typically comprise 10-20 companies with a position size greater than 2.5% each, and the optionality component will have 30-50 names that are each less than 1.5% of the overall portfolio. The holdings will typically have market capitalizations above 5 billion dollars.
“As the global economy moves from the analogue-based Industrial Age to the digital-based Information Age, a vastly different set of characteristics are needed for success. We believe that the two things that matter most as the world makes this switch from analogue to digital are adaptability in the face of an uncertain future and a company’s ability to create more value than it takes – what we call Non-Zero Sum, or NZS”, Slingerlend commented.
In his view, investing in a world shaped by disruption and free-flowing information requires a new approach, and they have “carefully honed” their Complexity Investing framework over the last decade for success in this new investing frontier. “We are delighted to share this strategy with Jupiter’s clients in the shape of this new fund”, he added.
Meanwhile, Andrew Formica, Jupiter’s CEO, pointed out that Slingerlend and Johns are “talented fund managers with a carefully-constructed process” that has the potential to deliver long-term returns. He believes their approach is “clearly aligned” with Jupiter’s culture and focus on high conviction, active fund management, centered around client outcomes.
“We have already seen a real client interest and strong early growth in the strategy since confirming the partnership with NZS, and the launch of this fund will bring the company’s total assets over 1 billion dollars while offering a further opportunity for our clients to access this exciting new strategy, a key strategic priority for Jupiter”, he concluded.
Foto cedidaNadia Grant, directora de Renta Variable Global en BNP Paribas AM.. BNP Paribas AM nombra a Nadia Grant para el cargo de directora de Renta Variable Global
BNP Paribas Asset Management has announced in a press release the appointment of Olivier de Larouzière as Chief Investment Officer for Global Fixed Income. He will be based in Paris and will report to Rob Gambi, Global Head of Investments.
De Larouzière will be responsible for managing BNP Paribas AM’s global fixed income platform, with a strong focus on investment performance and commercial success. He will also retain his existing responsibilities as Head of the Global Multi Strategy Product (GMS) team and will additionally join the Business, Investment and Investment Management committees.
De Larouzière joined the asset manager in January 2019 to manage the GMS team and currently has more than 25 years’ experience in the fixed income investment area. The global fixed income group of BNP Paribas AM that he will be responsible for includes 80 investment professionals located in London, Paris, New York and Asia-Pacific. Collectively managing more than 168 billion euros of assets in single- and multi-strategy products across sovereign debt, corporate credit, emerging market debt, structured securities and currency, the group also encompasses money market products, insurance products and credit research.
“During the past two years in which he has headed multi-strategy fixed income, Olivier has been instrumental in developing the investment philosophy and approach of the teams for which he has been responsible. I welcome him to his new role and look forward to working with him as he develops our fixed income capabilities further in order that we can continue to deliver long-term sustainable returns to our clients”, said Rob Gambi, Global Head of Investments of the firm.
Prior to joining BNP Paribas AM, De Larouzière was Co-CIO of Fixed Income at Ostrum Asset Management and senior portfolio manager at Credit Lyonnais Asset Management, having begun his career as a fixed income portfolio manager at Ecureuil Gestion. He holds a Masters in Applied Mathematics from Paris Dauphine University.
Foto cedidaJames Tomlins, gestor del fondo de bonos flotantes de M&G.. James Tomlins: “Los bonos flotantes high yield ofrecen una forma atractiva de jugar la reflación y protegerse de una subida de los tipos”
In times of economic uncertainty, high yield floating rate notes (FRNs) often offer an attractive source of income. That’s why we spoke to James Tomlins, manager of the M&G (Lux) Global Floating High Yield fund, about how the asset class has performed and what role it can play in portfolios today.
Question. Has this asset class lived up to expectations? How would you assess its performance over the past year?
Answer. The crisis should probably be viewed in isolation given its scale and the lack of any modern-day precedent. The high yield floating rate market faced the same uncertainties as other risk assets when the pandemic struck, so it initially sold off, before recovering strongly during the rest of 2020. The bonds retained the relatively high yield levels that are not present in government bonds or investment grade credit however. High yield FRNs are insulated from rising bond yields, and would even benefit through higher interest coupons if central banks were to begin to increase interest rates. Overall, the asset class has performed largely as one might expect in the prevailing circumstances as the crisis took hold and as the world has tackled it.
Q. Investors have now turned their minds to the economic recovery, which is set to arrive with the vaccination roll-out. In this recovery scenario, what can these assets contribute to investors’ portfolio?
A. Investors should probably express some caution as much of that optimism is already factored into credit spreads, which have returned to levels that prevailed as 2020 dawned. Nevertheless, if bond yields continue to increase, undercutting fixed rate bond values, floating rate bonds will not see the same hit to capital. If, in due course, central banks decide to begin increasing interest rates to combat rising inflation, high yield FRNs will actually benefit from those higher short term interest rates in the form of higher interest coupons, thus being able to provide larger income streams. Such a scenario is the so called “FRN Happy Place”.
Q. Higher inflation is also expected. What are your expectations for inflation and how will it impact this asset class?
A. The prospect of higher inflation and what this means for financial markets has become a key area of focus for investors in recent months. Some factors could indeed push inflation higher, in our view, in particular the unprecedented levels of fiscal and monetary stimulus, combined with the release of pent-up demand as the global economy reopens.
I believe high yield FRNs provide an attractive way to play the reflation theme and to protect against rising interest rates. This was demonstrated in February as concerns over rising inflation triggered a sharp sell-off in global government bonds. In contrast to many fixed income assets, high yield FRNs proved resilient during this period, with their floating rate nature helping to offset the negative impact of rising bond yields. Indeed, if central banks respond to the inflationary threat by hiking short term interest rates, FRNS benefit from higher coupons and therefore higher returns.
Q. In the same vein, what are your expectations for the interest rate horizon and how is this reflected in your M&G (Lux) Global Floating Rate High Yield fund?
A. At present, none of the main central banks appear likely to change their policy stance of being supportive, and begin increasing interest rates. They are likely to prefer to allow economies more time to build on their respective recoveries, even if it means higher inflation begins to become more entrenched. We typically do not attempt to position the fund for particular interest rate moves, preferring to look manage the fund conservatively and invest in value opportunities as we identify them. The more important question though is what does the market expect and can these expectations change. It’s this that will drive the volatility in the fixed rate market. If investors are concerned that this volatility will hurt their fixed income holdings, what FRNS do is provide a safe harbour from such stormy conditions in the bond market.
Q. Where do you see the main opportunities right now?
A. One of our key preferences is to hold lower-priced issues in the fund, as we believe the prevailing market climate offers them greater scope to generate returns than issues that are less market-sensitive and priced closer to par (100), as high yield FRNs typically have lower call prices than their fixed rate counterparts. We also retain underweight allocations relative to the benchmark, to some of the more economically sensitive sectors such as energy and leisure. While the economic backdrop of ongoing stimulus and low interest rates is supportive of companies and risk assets, such as high yield credit, there is a risk that the recoveries may falter and put pressure on credit valuations.
Q. The COVID-19 crisis and governments’ and central banks’ stimulus measures have generated a debate about what is underpinning the quality of fixed income assets. In the case of high yield floating rate bonds, are you concerned about asset quality?
A. Investing in high yield markets means taking on some additional degree of credit risk compared to investment grade markets and even in the most benign conditions, defaults can occur. This is why having a large and deeply experienced team of analysts, dedicated to undertaking the most robust assessments of the credits we hold, is so crucial. Our preference is to focus on issues that offer investors more protection in the event of a default, such as senior secured bonds.
Q. What can the M&G (Lux) Global Floating Rate High Yield strategy provide investors’ portfolios?
A. We believe the strategy, with our careful and conservative management approach, can offer investors the opportunity to achieve an appealing level of returns in a low interest rate environment. It is insulated from the negative effects that rising yields can have on fixed rate bond strategies and actually benefits from rising interest rates, through higher interest receipts.
Foto cedidaSandro Pierri, CEO de BNP Paribas AM.. BNP Paribas AM nombra a Sandro Pierri CEO
BNP Paribas Asset Management has announced in a press release the appointment of Sandro Pierri as CEO, with effect from July 1st 2021. Based in Paris, he will report to Renaud Dumora, future Deputy Chief Operating Officer of the group, in charge of the Investment & Protection Services Division, which includes BNP Paribas AM, BNP Paribas Cardif, BNP Paribas Wealth Management and BNP Paribas Real Estate.
Pierri succeeds Frédéric Janbon, who will become Special Advisor to Dumora, to ensure the transition, before leaving the Group at the end of the year to pursue other professional opportunities.
“I would like to sincerely thank Frédéric Janbon for his overall contribution to the BNP Paribas Group, in which he spent most of his professional career. During his tenure at the head of Fixed Income and up until 2014, he successfully built and ran a powerful and recognized fixed income and debt capital market franchise. Since 2015, he has refocused and transformed our asset management activities into a fully integrated platform delivering solid investment performance to our clients. Under his leadership, BNP Paribas AM has become a global leader in sustainable investment”, said Jean-Laurent Bonnafé, CEO of BNP Paribas Group.
Meanwhile, Dumora believes that the appointment of Pierri, who has more than 30 years of experience in the asset management industry and has been Deputy CEO for BNP Paribas AM since January, demonstrates the capacity of their asset management business to organise “a seamless succession plan which will ensure consistency” with the strategy developed by Janbon.
He also pointed out that Pierri has transformed BNP Paribas AM’s Global Client Group into a client-centric distribution platform to support the growth strategy of the business. “This has proved successful with positive results in 2020, despite the impact of the pandemic”, he commented.
Lastly, he highlighted that, as CEO, Pierri “will uphold the strategy, philosophy and values of the firm within the framework of the Group business development plan and will reinforce the leadership of BNP Paribas AM in sustainable investment”.
Pixabay CC0 Public Domain. Los activos en fondos ESG alcanzan los 2 billones de dólares apoyados por los fuertes flujos de entrada en Europa
ESG investing continues to grow. According to the latest report by Morningstar, the global sustainable universe attracted 185.3 billion dollars in net inflows in the first quarter of 2021, up 17% from 158.3 billion in the previous quarter. Specially supported by strong inflows in Europe, global assets neared the 2 trillion mark, up 17.8% from the last quarter.
The universe of the Global Sustainable Fund Flows review encompasses open-end funds and exchange-traded funds that claim to have a sustainability objective and/or use binding ESG criteria for their investment selection. The report divides it into three segments by domicile: Europe, United States, and Rest of World.
Thus, it shows that Europe took in the bulk of the flows during the first quarter of the year (79.2%), while the U.S. accounted for 11.6% of them. In the rest of the world, they were considerably higher than in previous quarters, clocking in at 17.1 billion dollars for Canada, Australia and New Zealand, Japan, and Asia. This is compared with 13 billion in the fourth quarter of 2020, a spike that can be largely attributed to an uptick in flows in Japan and China combined.
Europe accounts for 83% of global assets, followed by the United States with 12%. The past three years have seen a steady increase in assets in sustainable funds globally. “With currently 4,523 sustainable funds available and many more that now formally consider ESG factors in a nonconstraining way to better manage risks and improve returns, Europe is by far the most developed and diverse ESG market“, highlights the report.
Furthermore, product launches globally remained strong in the first quarter, with 169 new ones entering the market. This is down from the all-time record set in fourth-quarter 2020 with 215 launches but up from the first quarter of 2020. Morningstar explains that product development always slows down in the first quarter relative to the fourth one. The majority of the launches (65.6%) took place in Europe, while Canada and Asia ex-Japan both saw new 17 products, followed by Japan with 13 and U.S. with 11.
U.S. market
The analysis shows that, once again, sustainable funds in the United States attracted an all-time record level of flows in the first three months of 2021. In that period, U.S. sustainable funds saw nearly 21.5 billion dollars in net inflows. That’s slightly more than the previous record, USD 20.5 billion, set in the fourth quarter of 2020, and more than double the 10.4 billion seen one year ago, in the first quarter of 2020. It was also about 5 times greater than first-quarter flows in 2019.
Also, sustainable passive funds dominated their active peers in attracting flows. During the first quarter, passive funds claimed nearly 15 billion dollars, or 70% of all U.S. sustainable flows. In this sense, the five funds attracting the most flows in the first quarter of 2021 were all passive equity funds.
Meanwhile, assets in U.S. sustainable funds have stayed on “a steady growth trajectory”, says Morningstar. As of March 2021, assets totaled nearly 266 billion dollars. That’s a 12% increase over the previous quarter and a 123% increase year over year. Active funds retained the majority (60%) of assets, but their market share is shrinking because, as the report highlights, three years ago, they held 82% of all U.S. sustainable assets.
European market
Europe was the key to the good figures registered in the first quarter of 2021. European sustainable funds attracted inflows of 120 billion euros in the first quarter of 2021. This is 18% higher than in the previous quarter, and it represents 51% of overall European fund flows. Besides, sustainable fund assets increased by 17.5% over the quarter, reaching a record high of 1.3 trillion euros.
The report also shows that index funds and ETFs garnered 36.5 billion euros in sustainable fund flows, accounting for 30% of first quarter flows, up from 32.8 billion euros in the previous quarter.
As for product development, in the first quarter of 2021 it remained high in Europe, with 111 new sustainable fund launches identified by Morningstar. The firm expects this high level of sustainable product development to continue to be spurred by the Sustainable Finance Action Plan of the European.
Foto cedidaBhaven Patel, responsable global de ETF Capital Markets de HSBC AM.. HSBC AM nombra a Bhaven Patel responsable global de ETF Capital Markets
HSBC Asset Management continues to reinforce its team with the appointment of Bhaven Patel as Global Head of ETF Capital Markets. Patel, who joined the firm on April 6, will be based in London reporting to Carmen Gonzalez-Calatayud, Head of ETF Capability.
In his new role, he will be responsible for running the firm’s ETF Capital Markets function and driving the liquidity strategy for its ETF platform. The asset manager explained in a press release that Patel will work closely with the ETF sales team to help clients with their ETF trading and execution requirements, and with the ETF operations and product development teams to help design best-in-class primary market infrastructure to support the firm’s existing product range.
Commenting on the appointment, Carmen Gonzalez-Calatayud said that Patel’s experience in designing and launching asset class-specific ETF platforms will enable them to continue expanding their “growing range of ETF products and capabilities”.
Patel highlighted that HSBC Asset Management’s ETF business has seen “momentous growth” over the past year and it is “an exciting time” to join the firm. “I am looking forward to helping the company bring innovative products to the market”, he added.
Patel brings over 16 years’ experience within the ETF industry in managing the primary and secondary ETF markets and also an ETF trader. He joins from DWS Xtrackers where he was Director, ETF Capital Markets for six years. Prior to that, he was part of the iShares ETF Capital Markets team and also worked for the ETF and delta one trading teams at Credit Suisse and Morgan Stanley.
In 2020, HSBC AM set out its strategy to re-position the business as a core solutions and specialist emerging markets, Asia and alternatives focused asset manager, with client centricity, investment excellence and sustainable investing as key enablers. Growing its ETF range, particularly in areas such as ESG, Asia and fixed income, is one of the firms’ strategic growth initiatives. HSBC AM currently manages USD93.9 billion in passive and systematic strategies and USD 15.5 billion in ETF strategies.
