Infra bank seeks investment managers
The China-led Asian Infrastructure Investment Bank is looking to hire fixed-income management companies to help invest its billion of dollars of spare funds. But don't bother applying unless your company has some serious credentials.
The multilateral lender posted a help-wanted advertisement on its website for investment managers. It prefers one who has managed at least $100 billion in fixed-income portfolios, has beaten the benchmark bond index for three to five years and has 10 years of fixed-income management experience. Those are among several credentials listed by the bank, although not all are required.
"Chinese institutions may find it difficult to get in, because they lack the type of experience needed," said Zhou Hao, an economist at Commerzbank AG in Singapore. Large US and European asset managers would likely be eligible, Zhou said.
