Cathay SITE (Securities Investment Trust) the largest Asset Manager in Taiwan, today signed a Letter of Intent (LOI) for an exclusive strategic collaboration with Nippon Life India Asset Management (NAM India), a subsidiary of Nippon Life Insurance, one of the largest life insurance companies in Japan.
As a part of the LOI, both CATHAY SITE & NIMF will work exclusively with each other and use their expertise to explore areas for developing, managing, marketing and distributing each other s investment products in India and Taiwan.
Both companies will seek to develop and explore business opportunities in active and passive strategies, leveraging upon their specific investment and distribution reach, in India and Taiwan.
Taiwan’s financial regulator will soon introduce new rules to prevent greenwashing of environmental, social and governance (ESG) funds.
Fund managers will have to comply with a set of disclosure guidelines for launching new ESG funds, says Chen-Shan Chang, director general of the Financial Supervisory Commission’s (FSC) securities and futures bureau.
The new rules “are to prevent public misconception that ESG funds and greenwashing are the same thing”, he says in a statement on April 14.
Greenwashing refers to the practice of making exaggerated and unsubstantiated claims about how environmentally friendly a fund is to lure investors.
The FSC will announce details of the new rules in July. Chang says the regulator may follow Hong Kong’s ESG disclosure initiative.
Nippon Life India AMC rises 2% after company signs deal to explore Taiwan market
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Last Updated: Apr 15, 2021, 02:24 PM IST
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Synopsis
Cathay SITE and Nippon will work exclusively with each other and use their expertise to explore areas for developing, managing, marketing and distributing each other’s investment products
NAM India runs the Nippon Mutual Fund.
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NEW DELHI: Nippon Life India Asset Management Ltd (NAM India) shares rose after the company signed a deal with Cathay SITE (Securities Investment Trust), the largest asset manager in Taiwan, for exclusive strategic collaboration.
As a part of the deal, both Cathay SITE and Nippon will work exclusively with each other and use their expertise to explore areas for developing, managing, marketing and distributing each other’s investment products in India and Taiwan.
By Elizabeth Dooley
As a signatory to the UN Principles for Responsible Investment and with a track record of embedding ESG analysis into its investment processes, PineBridge is well placed to offer ESG investment products. In January 2020, PineBridge launched the first Global ESG Quant Bond Fund in Taiwan. The fund was recognised in the 2021
Asia Asset Management (AAM) Best of the Best awards as Most Innovative Product (Taiwan).
Investors in Taiwan are increasingly aware of the concept of sustainability and recognise that environmental, social and governance (ESG) risks can have a material impact on their expected returns, believes Ann Yang, CEO at PineBridge Investments Taiwan (PineBridge).