Degroof Asset Management (HK), Banque Degroof Luxembourg’s fund administration unit, has been approved an asset management licence from the Securities and Futures Commission (SFC) in Hong Kong.
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Following the licence approval, the company will offer a range of asset management services to investment funds, reported Asia Asset Management.
Banque Degroof Luxembourg managing director Geert De Bruyne said: "This strategic move reinforces our commitment towards Hong Kong and the Asian region, after having opened a representative office in Hong Kong back in 2011.
"The representative office allows us to develop closer ties with industry practitioners and lead business development efforts in Asia."
Banque Degroof Luxembourg is a wholly-owned subsidiary of Banque Degroof. It manages $31bn in assets under administration/custody as of February 2015.
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