London-based M&G’s real estate arm has hired a new fund of funds executive based in Singapore.
M&G Real Estate has appointed Wenning Jung as director, portfolio management – fund of funds, Asia Life Fund, according to a statement. Based in Singapore, she will report to head of Asia Life Fund Martin Seol. In this role, Jung will play a key role in helping manage the global fund of funds portfolio, driving growth in this strategy and generating new investment ideas.
Jung has more than 20 years of institutional real estate investment experience and client management experience. Previously, she worked at Franklin Real Asset Advisors as a senior vice president. Prior to that, she also managed the Asia real estate investment strategy at California Public Employees’ Retirement System.
The fund of funds program was launched in 20111 and is as a diversified strategy that invests in top-performing funds and strategies across Asia Pacific, North America, the UK and Europe.
Recent Milestone
M&G Real Estate is part of M&G’s broader private markets business which has $93.6 billion in assets under management, as of end-2023. Recent milestones in Asia include the acquisition of the Frontier Shinjuku Tower in Tokyo, the strategic divestment of ICON Yeoksam in South Korea and the completion of the Surbana Jurong Campus in Singapore.
In terms of personnel changes, the business promoted Alexander Banzic as head of Australia and Daniel Cho as head of Korea.
«Our commitment to excellence in portfolio management has been a key driver of our ability to outperform industry benchmarks,» said M&G Real Estate Asia CEO and chief investment officer Jing Dong Lai. «As we continue to capitalize on the highly compelling real estate market in the current vintage and deliver outstanding returns for our investors, we are delighted to welcome Wenning to our team.»
