As Asia’s local currency bond markets grow in size, so do the insurance companies and asset managers that invest in them. Size is important. But which among these institutions that have invested in talent received the most votes among its rated astute investors?
Canada’s Manulife and UK’s Schroders lead the pack as their investment teams were rated highly in a number of local markets, according to the inaugural ranking of the top investment houses in the local currency bond markets compiled by The Asset Benchmark Research.
Manulife Asset Management was the top ranked house in Hong Kong and came in second in Indonesia. Schroders Investment Management, on the other hand, came third in Indonesia and fourth in Singapore.
The ranking covers the markets of Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, Taiwan and Thailand, which together account for 80% or US$2.3 trillion of outstanding local currency bonds in the region (excluding Japan, Korea and China).
Not surprising, Asian institutions also figured highly in the ranking. In Malaysia, for example, Etiqa Insurance & Takaful, a subsidiary of Maybank, was ranked first; in the Philippines, Bank of the Philippine Islands and Banco de Oro, the top banks in the country, were ranked first and second; in Thailand, Kasikorn Asset Management, a unit of Kasikorn Bank, topped the ranking; and in Taiwan, the top five investment houses are all local institutions.
The Asset Benchmark Research compiled the ranking of the top five investment houses based on the highest number of votes for astute investors received from the top-rated individuals in banks and brokerages who are in sales, trading and research in the relevant Asian markets.
Over 350 top-rated individuals were invited to participate and a total of 442 investors from more than 260 institutions received nominations in the eight markets covered. Almost half (47%) the institutions are asset managers, 30% are commercial or private banks and 23% are insurance funds.
The top investment houses will be honoured at a gala dinner in Singapore on November 25 2014, on the eve of the 9th Asian Bond Markets Summit. For further information to attend the gala dinner or join the Summit, please click here.
Please find below the top five investment houses in Asian local currency bonds by country.
Top Five Investment Houses in Asian Local Currency Bonds 2014, Hong Kong
Position
Investment Houses
1
Manulife Asset Management
2
HSBC Global Asset Management / Private Bank
=
PineBridge Investments
=
Hang Seng Bank / Investment Management
5
BOC Group Life Assurance
Top Five Investment Houses in Asian Local Currency Bonds 2014, India
Position
Investment Houses
1
ICICI Prudential Asset Management / Life Insurance
2
Reliance Capital Asset Management
3
Birla Sun Life Asset Management
4
SBI Funds Management
5
UTI Asset Management
Top Five Investment Houses in Asian Local Currency Bonds 2014, Indonesia
Position
Investment Houses
1
BNP Paribas Investment Partners
2
Manulife Asset Management (Indonesia)
3
Schroder Investment Management
4
Allianz Life Indonesia
5
Mandiri Manajemen Investasi
Top Five Investment Houses in Asian Local Currency Bonds 2014, Malaysia
Position
Investment Houses
1
Etiqa Insurance & Takaful
2
AmInvestment Management / AmIslamic Funds Management
=
Great Eastern Life Assurance
4
MCIS Insurance
5
Hong Leong Assurance
=
Asian Islamic Investment Management
Top Five Investment Houses in Asian Local Currency Bonds 2014, Philippines
Position
Investment Houses
1
Bank of the Philippine Islands
2
Banco de Oro / Private Bank
3
Philam Life Insurance / Asset Management
4
Sun Life of Canada
5
ATR KimEng Asset Management
=
Metrobank / FMIC
Top Five Investment Houses in Asian Local Currency Bonds 2014, Singapore
Position
Investment Houses
1
Eastspring Investments
2
Western Asset Management
3
Nikko Asset Management
4
Aberdeen Asset Management
=
Schroder Investment Management
Top Five Investment Houses in Asian Local Currency Bonds 2014, Taiwan
Position
Investment Houses
1
Taipei Fubon Bank / Fubon Life Insurance
2
Entie Bank
3
Shin Kong Life Insurance
4
Taiwan Life Insurance
5
Cathay United Bank / Life Insurance
Top Five Investment Houses in Asian Local Currency Bonds 2014, Thailand
Position
Investment Houses
1
Kasikorn Asset Management
2
UOB Asset Management
3
Government Pension Fund
4
Krungsri Asset Management
=
One Asset Management
To view the ranking of the Most Astute Investors in Asian local currency bonds, please click here.
To find out more about The Asset Benchmark Research and our work, please click here.
A full ranking of the top investment houses in Asian local currency bonds as well as the outlook for the local currency bond markets for the year ahead from the top-ranked astute investors is available in the September issue of the magazine. To subscribe, please click here.
