Boutique investment manager of the year, Asia: Maitri

Singapore-based Maitri Asset Management has won Asian Boutique investment manager of the year.

Part of Tolaram, the multi-family office focuses specifically on active responsible investment management in Asia.

Manish TibrewalIshk Tolaram Foundation is Maitri's largest beneficiary, providing access to education, healthcare and skills training in countries such as Indonesia and Singapore. It said given this, it is mindful to make investments in line with the values and work the foundation carries out.

Maitri also has a two-tier responsible investment approach. The first level includes screening its entire portfolio against companies which receive more than 10% of their revenue from at least one of six 'sin' sectors. This includes weapons, tobacco and alcohol.

The second level is the application of its proprietary ESG integrated investment framework to its sustainable funds. Mairi has called this a "form of enhanced risk management as well as opportunity identification".

Alongside a coal exclusion policy, it engages with corporates on disclosures and controversial plans as well as uses its corporate voting to push for better ESG performance.

Maitri has seen positive responses to its engagement. It was part of an investor consortium which convinced other investors to withdraw support for Vung Ang, a power plant project in Vietnam due to climate-related risk. This also led Mitsubishi corporation to pledge it will not engage in any new coal-fired power plants.

It claims to be the first multi-family office to achieve B Corp certification in the Asia-Pacific region and was one of the first Asian asset managers to set interim targets to the Net Zero Asset Managers initiative. Maitri has said it will continue to be active in the space, aiming to drive forward ESG and sustainability across Asia.