Baring Asset Management, a global investment management firm, is reportedly considering launching a series of Hong Kong domiciled funds in early 2015.
Pending receipt of regulatory approvals, the fund assortment will be rolled out to get the benefit of an anticipated "mutual recognition platform" between Hong Kong and China, international-adviser.com has reported.
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Barings Asia Ex Japan chief executive Gerry Ng said, "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," Gerry added.
Barings, which manages more than US$14.4billion in Asia excluding Japan, has been active in China for more than 220 years. It opened its first office in Hong Kong in 1973.
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By GlobalDataIn order to attract more foreign investment, China has been gradually opening its currency and stock markets while allowing foreign financial institutions to invest directly into its equity market.
