A Temasek-backed fund aims to foster growth in impact investing in Asia by striking deals that can do good while still generating a commercial rate of return. ABC World Asia Chief Executive Officer David Heng outlined his vision for the S$405 million ($300 million) impact investment fund in his first interview since taking the role at its inception in 2019. “If I can make good returns and make good impact then hopefully this will become more and more mainstream,” Heng said.
The fund is one of several vehicles Singapore state-owned investor Temasek Holdings Pte is using to pump money into a category of finance that aims to improve environmental, social and governance goals while still making a profit. Earlier this month Temasek entered a $500 million partnership with impact fund manager LeapFrog Investment.
With global assets at $715 billion, the market for such investment has further room for growth, according to a Global Impact Investing Network survey. But generating decent gains is key to convincing investors, according to Heng.
Source: BNN Bloomberg
By David Ramli
