Maybank Asset Management Group Partners With Hastings To Explore Asean Infrastructure Investment Opportunities
Maybank Asset Management Group To Tap ASEAN's Growing Infrastructure Sector
Kuala Lumpur, 4 November 2015 – Malaysia's Maybank Asset Management Group Berhad ("Maybank AM") today cemented a partnership with global specialist infrastructure fund manager, Hastings Management Pty Ltd, to provide investors with Shariah-compliant infrastructure investment opportunities in the Asian region.
Maybank AM will combine its established ASEAN presence and strength in over 10 countries with Hastings' investment expertise to create a strong fund partnership. Together, Maybank AM and Hastings aim to provide investors with the benefits of access to infrastructure investment opportunities in emerging markets such as the ASEAN economies, India and China through a pooled-fund.
Maybank AM, Group CEO, Nor' Azamin Salleh, believes strong market opportunities exist across the target regions for infrastructure funds. "Our strength and stability as a financial institution, widespread regional capabilities, experienced portfolio management teams and continued dedication towards providing sound investment advice and solutions to our clients have enabled us to diversify our portfolio with this first-of-its-kind infrastructure fund with Hastings. As a specialist and leader in infrastructure funds management, Hastings has a strong track record and portfolios with a diverse range of infrastructure assets which makes them the ideal partner in this venture," explained Nor' Azamin.
Maybank AM recognises that a strong need exists for infrastructure improvement in Asia's growing economies and, as a result, investments will be made in infrastructure projects. According to McKinsey Global Institute's (MGI) research, ASEAN economies will require a cumulative USD 7 trillion for infrastructure needs from 2014 up to 2030. The increased need for infrastructure investment is driven by several factors. These include continued economic growth, rapid urbanisation, the rising middle-class and stretched government finances. Taking this into consideration, Maybank AM sees the market opportunity in infrastructure funds which will provide steady returns, moderate risk, lower market volatility, and opportunities for portfolio diversification. This is coupled with a long-term horizon with consistent yields and returns, and organic investment opportunities that enable expansion and follow-up investments within the same portfolio.
"We are excited to be in partnership with Maybank AM. Hastings brings to this partnership 21 years of experience as a specialist global infrastructure fund manager, a large pipeline of investment opportunities and a proven track record of delivering returns for investors. By partnering with a leading player such as Maybank AM, we look forward to deepening our relationships and expanding our footprint in Asia," said Chief Executive of Hastings Management Pty Limited, Andrew Day.
The deal between the parties will also benefit Malaysian Islamic finance, exploring the establishment of the first Malaysian domiciled USD-denominated global infrastructure fund by a Malaysian institution and co-managed by a world-renowned infrastructure asset manager. In addition, investment into infrastructure assets by the fund will open up opportunities for the syndicate of Malaysian Islamic banks to provide the Shariah debt support both at the acquisition stage and also Sukuk at the expansion stage.
Next steps include a global roadshow to introduce the proposed Shariah-compliant infrastructure investment fund to potential investors to explain the benefits of bringing together Maybank Asset Management's reach and Hastings' funds management experience. In particular, an infrastructure roundtable is planned for late November in Kuala Lumpur, that will bring together investors with Maybank AM and Hastings to discuss the opportunities in the market. The signing of the Memorandum of Understanding between Maybank AM and Hastings was officiated at the 11th World Islamic Economic Forum (WIEF).
The term "MAMG" used herein refers to Maybank Asset Management Group Berhad. The term "Hastings" used herein refers to Hastings Management Pty Limited ABN 88 101 976 366 (Hastings), a subsidiary of Westpac Banking Corporation ABN 33 007 457 141 (Westpac), (herein after collectively referred to as the "Parties").This media release is for general information only and does not constitute any professional advice. It does not have any regard to the specific objectives, financial situation and particular needs of any specific person and is based on information obtained from sources believed to be reliable. The information, materials & contents provided in this media release, including but not limited to products, data, text, images, graphics, audio, video, links or other items (hereinafter collectively referred to as ‘Information') are provided by Parties for general information purposes only. The Information is subject to change without notice.
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About Maybank Asset Management Group Berhad ("Maybank AM")
Maybank Asset Management Group Berhad ("Maybank AM") is one of the pioneers in the local asset management industry with over 30 years of experience specialising in Asian markets. The company is wholly owned by Malayan Banking Berhad ("Maybank"), recognised as one of Malaysia's largest banking groups and was ranked amongst the 20th strongest banks in the world rated by Bloomberg Markets. (Source: In terms of assets and among other things, capital strengths, asset quality, strong reserves as well as deposit and funding strength, as at July 2014)
Our presence spreads across four (4) key markets in Asean namely, Malaysia, Singapore, Thailand and Indonesia offering Asian based investment solutions encompassing both conventional and Islamic assets. In addition to fund management services, we also offer alternative investment solutions through our private equity arm. Our portfolio management services cater to all types of investors including corporate and institutions, high net-worth individuals and mass retail.
We have a strong foothold in Asean with strategic intent to enhance our investment capabilities with on-the-ground market intelligence and expertise as well as expanding our regional distribution capabilities to market products cross-border.
Maybank AM group's asset under management ("AUM") stood at MYR 14.2 billion as at 30 September 2015.
Hastings is a specialist manager dedicated to transforming global infrastructure investment opportunities to deliver long-term value for its investors. Established in 1994, Hastings is one of the first infrastructure fund managers and has a proven investment and asset management track record through its strong fiduciary culture and focus on core infrastructure equity and debt. Hastings is dedicated to delivering reliable and consistent investment returns to a wide range of institutional investors. It currently manages approximately A$11.8 billion across a number of funds and mandates as at 30 September 2015. Hastings' clientele totals some 60 institutional investors. From its headquarters in Melbourne, Hastings has built a global footprint with offices in Sydney, Singapore, Seoul, Mumbai, London and New York, now collectively employing over 100 staff.
The Hastings asset portfolio predominantly comprises utilities, airports, toll roads and seaports in Australia, the UK, Europe and the US. The primary focus is on building a diversified portfolio of equity and debt-based infrastructure investments. The Hastings team covers portfolio construction, origination and management, infrastructure investing, asset finance, business development and client services.
Hastings is dedicated to the infrastructure sector and with more than two decades of experience is one of Australia's longest running and most qualified infrastructure managers. It established one of the first infrastructure equity funds, Utilities Trust of Australia, in 1994 and one of the first infrastructure debt funds when it launched the Hastings Yield Fund in 1999.
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