Harvest Global Investments, a Hong Kong-based subsidiary of China’s Harvest Fund Management, is planning to set up a fund management company in London in early 2015.
Subject to FCA approval, the new office will serve as an asset management company focusing on offering European investors access to Chinese market.
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The new London office will include China-focused Asian strategies and eventually develop a Harvest- branded UCITS platform.
The said that it is planning to employ up to 10 staff in the London office across different functions including fund managers and operations.
The firm will also hire recruitment consultants who will be mainly local hires in the UK, with few of them relocating from the firm’s Hong Kong and China offices.
Jeff Lim, head of the product and client service at Harvest Global Investments, said: "As a start, our focus of the London branch will be on institutional investors. Gradually, we plan to offer our investment expertise through appropriate retail platforms."
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By GlobalData"With the rapid internationalization of the Chinese domestic markets through initiatives such as Shanghai-Hong Kong stock connect and RQFII, international demand for investment expertise will also increase. We look forward to these opportunities" he added.
Peng Choy, CEO of Harvest, said: Harvest is continuing our global expansion. We see significant growth opportunities in Europe and London’s importance as a global financial center is where we want to be."
