Affin Hwang Asset Management (Affin Hwang AM) is teaming up with Nikko Asset Management (Nikko AM) to boost its fund distribution to Europe and Singapore.
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Affin Hwang will tap the Singapore retail market through the new Asean collective investment scheme that allow cross-border fund passporting across Malaysia, Singapore and Thailand, while it will target institutional investors in Europe via Luxembourg Ucits structures.
Additionally, Nikko Asset Management has received approval from the Monetary Authority of Singapore to offer a fund under the ASEAN Collective Investment Scheme.
The fund house plans to launch the Nikko AM Shenton Horizon Investment Fund – Singapore Dividend Equity Fund in Malaysia with Affin Hwang Asset Management, subject to regulatory approval from the country.
Moreover, Affin Hwang is planning to launch Asia ex-Japan and Islamic products in Singapore early next year, said chief strategy officer Esther Thye.
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By GlobalDataIn Europe, Affin plans to roll out an umbrella platform with two Asian equity strategies, namely the Affin Hwang Select Asia ex-Japan Opportunity Fund and the Affin Hwang Select Asia ex-Japan Quantum Fund.
The Singapore Dividend Equity Fund that Nikko plans to passport under the ASEAN CIS Framework will invest primarily in equity shares of companies listed on the Singapore exchange that offer attractive and sustainable dividend payments.
Teng Chee Wai, managing director of Affin Hwang AM, said: "Nikko AM’s Singapore Dividend Equity Fund is a natural choice to kick off the passporting initiative as it adds to our income-based fund offerings, providing alternatives for Malaysian investors to choose from."
