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November’s most read: KIC hires real estate head; CDPQ unit to raise Apac property allocation | Asset Owners

KIC appoints new head of real estate

Korea’s sovereign wealth fund Korea Investment Corporation (KIC) has filled the position of group head and managing director for real estate that had remained vacant for more than a year.

Cho Bum-lin, or Thomas Cho, will head real estate investments from October 27, a KIC spokesperson confirmed. Asian investor.

Based in Seoul, Cho will oversee the existing real estate team as well as work with real estate investment portfolio managers at KIC’s overseas offices in New York, London, Singapore and San Francisco.

Ivanhoe Cambridge is looking to double its allocation to APAC property

As a subsidiary of the $290 billion Canadian pension fund Caisse depot et placement du Quebec (CDPQ), Ivanhoé Cambridge manages a $52 billion (C$70 billion) real estate portfolio with a mandate to develop and invest in high-quality properties, projects and companies which shape the urban fabric of cities around the world.

“We have these ambitions that our allocation to Asian property will at least double in size over the next few years,” said George Agethen executive vice president and co-head of Asia-Pacific at Ivanhoé Cambridge. Asian investor.

Heungkuk Life shakes up Korean financial markets with delayed call option redemption

The Korean financial markets were recently taken for a spin when Heungkuk Life Insurance, a mid-sized player in the Korean insurance industry, announced on Nov. 1 that it would delay exercising a $500 million call option on Nov. 9 for its foreign-currency bonds — though the insurer eventually reversed its decision on Nov. 7.

Heungkuk Life plans to repay the debt via its own capital and repo deals, a spokesman said, and the exact amounts have not yet been decided – but if the insurer had not taken this step, it would be the first times since 2009 have been that a Korean financial institution has failed in the early redemption of foreign currency bonds.

Khazanah, OMERS Asia call for improvements to ESG ratings

ESG ratings need common standards, as different data provided by various agencies cause challenges to measure the performance of investor portfolios from an ESG perspective, especially on the ‘social’ and ‘governance oversight’ components, senior executives said of Khazanah Nasional Berhad and OMERS Asia said.

“We use a lot of third-party suppliers [in the measurement of S and G]and one of the challenges we find is that when you look at X versus Y, the outputs are very different,” said Anand Ramachandran, Singapore-based managing director at Ontario Municipal Employees Retirement System (OMERS) Asia.

“The death of traditional portfolio construction” is the working title for a position paper to be released by Future Fund within a week, Craig Thorburn, director at the CIO office at Australia’s sovereign wealth fund, told the audience. Asian investors 12th Southeast Asia Institutional Investment Forum in Singapore on 22 November.

This exciting and enticing title highlights that asset owners – depending on type, mission and mandate – may need to rethink how they approach their portfolio construction and asset allocation in a world of sustained inflation, deglobalisation and increased geopolitical risk.

¬ Haymarket Media Limited. All rights reserved.

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