Housing Society shakes up asset mgt strategy

The institution fires its balanced managers and hires specialists and a multi-manager.

The HK$13.6 billion $1.7 billion Hong Kong Housing Society has just restructured how it invests its assets, boosting its commitment to long-term portfolios and revamping its management team to favour specialist mandates.

It got fed up with relying exclusively on balanced fund managers for its medium- and long-term investments, particularly because they tended to underperform in the recent bear markets. So it fired Allianz Dresdner Asset Management, Baring Asset Management, Citigroup Asset Management and JF...

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