Insto roundup: state-backed investors bail out Huarong; Korea's NPS divests from General Electric
State-backed Chinese investors will bail out Huarong Asset Management, which unveiled $15.9 billion losses; Hong Kong insurer FWD planning $3 billion IPO in the US; MPF posts 28% investment return and 35% jump in assets; Korea's Poba seeks two managers for multi-asset mandate; NPS divests entire 11.5 million shares in General Electric; Malaysia's PNB and Khazanah pledges to increase sustainable investments; and more
AUSTRALIA
John Pearce, the chief investment officer of UniSuper, has warned that valuations in the green technology sector are becoming stretched as interest in environmental, social and governance (ESG) investing rises.
As a result, some green tech assets including battery, solar panel and electric vehicle-related companies are now overpriced.
Pearce added that these asset prices may plateau as earnings catch up with high valuations.
Source: Australian Financial Review
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