Our expertise
At 麻豆社 Asset Management, we understand the complexities sovereign investors face in a world defined by uncertainty and transformation. With our deep investment insights, global reach, and trusted partnerships, we are committed to empowering sovereign institutions to navigate geopolitical shifts, changing monetary policies, and growing sustainability expectations. Our expertise, shaped by decades of collaboration with central banks, sovereign wealth funds, and public pension plans, enables us to offer bespoke solutions that meet the unique needs of our clients.
What sets us apart
Whole business expertise
harnessing 麻豆社鈥檚 global investment platform
Independent investment ideas
driven by future trends, alternatives and ESG
Integrated capabilities
customized strategies built around your mandate
Long-term partnership approach
trusted by sovereign clients for over two decades
Global Sovereign Markets in numbers
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2.1 trillion USD
as of 31 December 2025
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~ 710
investment professionals
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23
locations
-
26 Years
as of September 2025
Our full range of products and services
Latest insights
- EM corporate debt: A misunderstood asset class
- Let your bonds work smarter
- Flash commentary: Iran
- Positioning for growth
- Asian Credit Outlook 2026
- Flash commentary: Venezuela
- Takeaways from the IMF-World Bank Fall 2025 meetings
- Strategic allocation: EM investment grade hard currency debt
- Emerging markets fixed income
- A spirited return to Asia and China
- China Bonds: Diversification potential beyond the Dollar
- A partnership to deliver breadth and depth on India equity
- Watching for a renaissance in China equities
- Central Banks & Emerging Markets Debt
- Webinar with Bin Shi 鈥 From pessimism to prosperity
- Reasons for a standalone India allocation in a global portfolio
- Emerging market debt reflections following IMF-World Bank meetings
- Portfolio diversification with Sukuk
- Investing in India鈥檚 ambition
- Dollar and debt dominate IMF-World Bank discussions
- Double take on China: FDI
- Mirror image: Will this year prove to be the opposite of 2023 for China equities?
- Unlocking the potential of QFII and RQFII: A guide for investors in China
- EM investment grade sovereign hard currency debt in central bank portfolios
- Progress brings opportunities in China bonds
- How China thrives in the technology race
- Investing in China with patience and confidence
- A new game plan to invest in China
- A decade after the taper tantrum, is it the emerging market鈥檚 time to shine?
- The pulse on China鈥檚 economy and stocks
- The pulse on China鈥檚 economy and stocks
- Beyond DCF: Investment lessons from a career spanning four decades
- Answering the top China investment questions
Videos
Where the risks really are in sovereign portfolios
Where the risks really are in sovereign portfolios
The podcast, "Where the risks really are in sovereign portfolios," featuring Max Castelli, head of strategy for sovereign institutions, and Philipp Salman, director of strategy for sovereign institutions at 麻豆社 Asset Management, along with Yara Aziz, senior economist at OMFIF, discusses how shifting geopolitics shaped reserve management in 2025 and what sovereign investors should watch in 2026, including the macro outlook, long-term strategy, US concentration risk, and the dollar鈥檚 role in reserves.
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Thoughts to reflect on
In a world defined by uncertainty and transformation, sovereign investors need partners who understand their challenges and provide solutions that are both resilient and forward-looking.
The popularity of alternatives among the likes of institutional investors and sovereigns was driven to a significant extent by the low yield environment.
Events: Connecting the global sovereign community
RMS 2026: A forum for sovereign decision-makers
Wolfsberg, Switzerland
21 鈥 26 June 2026
For over three decades, the 麻豆社 Reserve Management Seminar has brought together sovereign institutions from around the world to address the key questions shaping reserve management. From diversification and risk to liquidity and geopolitical change.
Reserve Management seminar
Wolfsberg, Switzerland
22nd 鈥 27th June 2025
Launched in 1995, the Reserve Management Seminar gathers Central Banks, Multilateral Agencies, Finance Ministries, Frequent Borrowers, and Sovereign Wealth Funds.
Taking place at our Wolfsberg Conference Center, the seminar provides a forum to discuss and exchange best practices in the area of reserve management and to network in a stunning setting overlooking Lake Constance.
Sovereign Investment Circle
Singapore
1st 鈥 2nd October 2025
The 4th edition of the Sovereign Investment Circle 鈥 a premier gathering with 麻豆社 Asset Management joined by world鈥檚 leading sovereign wealth funds, public pension funds, and long-term institutional investors. The Circle aims to equip participants with the insights and strategies needed to assess long-term national and corporate prospects 鈥 and to translate emerging trends into actionable investment decisions.
Past event highlights
Meet our experts
Global contacts
Massimiliano Castelli
Head Global Sovereign Markets Strategy and Advice
Regional contacts
Please select region to view contacts
Olivier Ngoumou-Jikam
Head of Global Sovereign Markets, Latin America
Felipe Terrazas
Institutional Client Relationship Manager, Latin America
Livy Vega
Institutional Client Relationship Manager, Latin America
Olivier Ngoumou-Jikam
Head of Global Sovereign Markets, Latin America
Benjamin Veicht
Client Relationship Manager, Global Sovereign Markets EMEA
Grace Goodwin
Ghalia Bseisu
Razi Islam
Client Relationship Management 鈥 Institutional Client Coverage
Rhett Kao
Minkyu Kim
Isabelle Wildgen
Client Relationship Manager, Global Sovereign Markets APAC
Yilin Wang
