Baring Asset Management, a London-based investment management firm, is set to launch a new range of Hong Kong-domiciled funds in early 2015.
The new fund range will take advantage of the anticipated mutual recognition platform between Hong Kong and China.
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As part of the launch, Barings has decided to appoint HSBC as administrator, trustee, transfer agent and custodian for the fund range.
Gerry Ng chief executive Barings Asia Ex Japan 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.
"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," Ng added.
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By GlobalDataBarings said it has been operating in China for more than 220 years and opened its first office in Hong Kong in 1973. It has launched the first mutual funds investing in the region in 1982, managed the first dedicated China fund in 1985 and was early investor in China’s domestic A-share market.
Barings, which employs over 130 staff in the region, now manages in excess of US$14.4 billion in Asia Ex Japan, of which US$3.7 billion is in China/Greater China.
