Tue, 10/06/2014 - 06:07
Baring Asset Management has launched a range of Hong Kong domiciled funds which it plans to bring to market in early 2015, subject to regulatory approval.
Barings has decided in principle to appoint HSBC as administrator, trustee, transfer agent and custodian for the range.
Gerry Ng, chief executive officer, Barings Asia Ex Japan, says: “We have a long and distinguished record of investing in Asia and this new development furthers our commitment to investing in local talent and infrastructure in the region. Initially we plan to launch a focused range of locally domiciled funds in Hong Kong, drawing on our deep pool of asset management expertise.
“The development of a local fund range also positions us to take advantage of the anticipated mutual recognition platform between Hong Kong and China and the increased demand for locally domiciled funds that we expect to follow.”
Barings has been active in China for over 220 years and opened its first office in Hong Kong in 1973. The firm launched one of the first mutual funds investing in the region in 1982, managed the first dedicated China fund in 1985 and were early investors in China’s domestic A-share market.
Ng says: “With this planned new fund range we look forward to continuing to expand our franchise in Asia and our commitment to the region, developing increasingly bespoke solutions in response to client demand.”
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