Cash-rich European corporates are likely to seek acquisitions, which could drive up the stock prices of target firms, says the CIO of Edmond de Rothschild Asset Management.
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The French bank has a new Asia business development team whose main focus will be asset management, and has boosted its stake in its Chinese fund-management joint venture.
The French firm’s Asia marketing manager will depart this week with his eye on two potential new roles.
Having signed a deal with Manulife, the French asset manager plans to sell at least 10 funds on the island by the end of the year, including thematic products.
The firm has named Lavin Mok as head of Asia sales and Bryan Yip as China equities manager and will transfer its Asia portfolio manager from Paris to Hong Kong.
The Asian convertible-bond market is still struggling to attract interest from new types of investors, despite a strong performance last year and a healthy pipeline of issues due in 2010.
The Paris-based asset manager is raising capital for the new convertible-bond fund, with an ultimate target AUM of $1 billion.
Asian CBs have proved hugely popular since March last year, which has piqued the interest of Asia-based investors, says Natalia Barazal of Lombard Odier.
The asset manager is ramping up in Asia and considering launching an emerging-market convertible bond fund, says Bruno Vanier, chief investment officer for equities.
The SMBC Nikko New World bond and equity funds replicate a structure created by Nomura and are sub-advised by Goldman Sachs Asset Management and Edmond de Rothschild.
Bruno Vanier of Edmond de Rothschild Asset Management favours companies like BMW, Microsoft, Chalco and HKEx.