16
TARGET COUNTRIES FOR INVESTMENT
CANADA 3
% HONG KONG 36
UNITED KINGDOM 56 GERMANY 21
FRANCE 18 IRELAND 3 POLAND 3
CHINA 41 VIETNAM 3
THAILAND 3 TAIWAN 3
SOUTH KOREA 10 JAPAN 21
MYANMAR 3 MALAYSIA 3
UNITED STATES 40 BRAZIL 6 SPAIN 12 MOST PLAN TO USE DEBT
The majority of respondents (71%) said that they are likely to use debt to leverage their exposure in future investments, down from 79% last year. This figure still remains high despite the fact that 63% anticipates an increase in the cost of debt over the next 12 months. A private equity fund explicitly stated that the entire investment market in Asia remains flushed with capital and is still chasing limited assets. This is driving investment yields down.
ITALY 3
SINAGPORE 33 INDONESIA 5
RETURNS ABOVE 20% DIFFICULT TO FIND
Most Asian investors (58%) indicated that they were likely to take on more risk over the next 12 months in order to achieve superior returns. Similar to last year, almost half (49%) of the respondents are targeting IRRs above 15%, with a smaller percentage, 11%, targeting IRRs in excess of 20%. A private equity firm, based in the US, expressed the opinion that opportunistic investments with 20% plus returns are increasingly difficult to find amid a lack of distressed sales in the current low interest rate environment.
NEW ZEALAND 5
PHILIPPINES 3 AUSTRALIA 26
COLLIERS INTERNATIONAL
2015 GLOBAL INVESTMENT SENTIMENT REPORT
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