The Singapore-headquartered fund management company is also planning to roll out ESG strategies into its product roadmap.
Phillip Capital has appointed Stephen Beng Sui-Leung as the company's first head of ESG strategy, who will spearhead ESG integration at both the group and firm level, according to an announcement on Friday.
Beng previously held regional senior management roles in several financial services firms and is an experienced relationship manager, product developer and communicator. He will be responsible for deploying the framework towards the Group’s ESG commitments, as well as within the investment portfolios managed by the firm.
Growing Interest
According to Phillip Capital, the overall trading value in its ESG ETFs increased over 100 percent as of mid-April 2021 compared to the whole of 2020, while AUM of ESG funds crossed $500 million.
«I firmly believe that capital markets can drive the big industrial changes necessary for us to meet conservation, climate and social goals. I’m also confident that through judicious processes and earnest partnerships, we will continue to see positive investment performance attached with purposeful rewards,» Beng said.
More Offerings
Phillip Capital said the firm will work with its U.K. counterpart, King & Shaxson Asset Management, to build deeper integration of ESG considerations in its product offerings in Singapore. In Singapore, only its Phillip Global Quality Fund has ESG considerations, and it is not considered ESG-centered. King & Shaxson, however, has been managing ethical portfolios since 2002, with an AUM of £160 million ($222 million).
In the first phase, the company will be wrapping the ethical portfolios from its U.K. office and bring the offerings to Singapore’s accredited investors.
Founded in 1975, Phillip Capital operates in 15 countries, with 5,000 employees and over 1 million clients worldwide. It has $35 billion in assets under custody/management, with over $1.5 billion in shareholders’ funds.
