March 31 News and developments in the Asian
funds industry in the last week.
In forcing automaker Maruti Suzuki India Ltd to
backtrack on a controversial production deal with its Japanese
parent, a group of Indian fund managers scored a rare win that
heralds increased activism for an Indian fund industry long seen
Continuing political uncertainty, derailed infrastructure
plans and sliding domestic demand are making big Thai companies
look more keenly at investing elsewhere in the neighbourhood
rather than in Southeast Asia's second-largest economy.
The heavy outflow from emerging market equity funds all but
ceased in the last week data from EPFR Global showed on Friday,
a sudden halt that boosted hopes the recent pounding of EM
assets may be abating.
India's market regulator said on Friday it will push forward
the implementation of its new Foreign Portfolio Investor (FPI)
rules by two months to June 1 in order to give more time to
market participants to comply with the norms.
BlackRock Inc, the world's biggest money manager,
said improving economic indicators in Indonesia and consistent
corporate earnings in the Philippines make those two countries
prime hunting grounds for Southeast Asian stocks.
Taiwan's financial regulator is relaxing share trading rules
to allow intra-day short selling of stocks, two people with
knowledge of the situation said, in a move aimed at boosting
anaemic trading volumes.
The Canada Pension Plan Investment Board said on Tuesday it
will invest $250 million in the Chinese real estate market
through a new venture with China Vanke Co Ltd, the
nation's largest residential developer.
Rising U.S. interest rates and the Federal Reserve winding
down economic stimulus mean investors in Southeast Asian bonds
must anticipate near-term jitters and increased yields, said the
Asia-Pacific head of fixed income at State Street Global
Lack of professional management and poor book-keeping are
keeping idle billions of dollars worth of assets held by Muslim
charitable organisations which could support efforts to reduce
poverty, a study released on Tuesday found.
The head of Japan's $1.26 trillion public pension fund, the
world's largest, said a review of asset allocations into stocks
is not aimed at supporting domestic share prices, the Asahi
newspaper reported on Tuesday.
An executive charged with exploring including China's A
shares in index compiler MSCI's Emerging Markets Index said that
around half of the institutional investors he'd met with so far
opposed the idea given uncertainty about taxation, volatility
and repatriation of profits.
(Compiled by Nishant Kumar in Hong Kong; Editing by Subhranshu