AIA, Axa CIOs flag outsourcing challenges

Some of Asia’s leading insurers remain unconvinced about the merits of outsourcing their portfolios to external managers even as other asset owners push to do so. Speaking at AsianInvestor's inaugural Insurance Investment Forum in Singapore on Thursday, Liu Chun-yen, chief investment officer for AIA Singapore, said that “the most challenging part is to ask them to generate alpha". Alpha is the excess return that can be eked out by a manager relative to the broader market or benc…