The fund will use the MSCI Asean Index as its benchmark, and employ quantitative strategies to favour value, yield and momentum, with a bias toward large-cap stocks. Some Singapore-based companies — such as ride-hailing service Grab Holdings Ltd and e-commerce firm Sea Ltd — will be eligible investments, they said.
(March 31): BlackRock Inc plans to launch a fund next month focused on large Southeast Asian stocks, according to people familiar with the matter, a move supporting Singapore’s drive to boost liquidity in the local market.
The actively managed fund, with at least $500 million in assets, will allocate 50% or more to Singapore at the start, the people said, declining to be identified discussing non-public information. It will also have an underweight position in Indonesia in the beginning, they said.
