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CLI to rebalance portfolio, grow India and South-east Asia businesses

As the asset management group diversifies further, its funds under management in China will fall to 10% to 20% by 2028, from 27% currently

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Chong Xin Wei

Chong Xin Wei

Published Mon, Nov 25, 2024 · 10:29 AM
    • For the nine months ended September, CLI's total revenue amounted to S$2.1 billion, up from S$2.09 billion in the year prior.
    • For the nine months ended September, CLI's total revenue amounted to S$2.1 billion, up from S$2.09 billion in the year prior. PHOTO: CAPITALAND INVESTMENT

    CAPITALAND Investment (CLI) will rebalance its portfolio to grow its India and South-east Asia business and optimise its China holdings, as it seeks further “geographical diversification” for growth.

    The group also plans to “leverage M&A (mergers and acquisitions) to grow in our focus markets of Japan, Korea and Australia, and look to ex-Asia developed markets such as the US and Europe next”, CLI said on Nov 22.

    The asset management group aims to double funds under management (FUM) from S$102 billion as at the third quarter of 2023, to S$200 billion in FY2028. This is expected to drive CLI’s overall return on equity towards the 10 to 12 per cent level on a sustainable basis, said DBS Research analysts in a note on Saturday.

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