Forthright Financial, a unit of Chinese investment services provider Yintech, has bought OTS Capital Management, a Hong Kong-based asset management firm.

The acquired entity offers asset management for financial products traded on global capital markets. The business, founded in 2015, tends to both individual as well as institutional customers.

The deal aligns with Yintech’s plan to diversify its securities product offerings. Financial terms of the transaction were not disclosed.

The purchase is said to expand Yintech’s service offering. The company will now provide foreign-currency denominated long-short funds, overseas securities brokerage services, spot and futures commodities trading services, among others.

Yintech chairman and CEO Wenbin Chen said: “Leveraging our strong existing RMB asset management capabilities which have performed very well, this acquisition expands our investment platform and is expected to result in value creation for our shareholders through cost and management synergies such as technology, operations, investment support and client service, across a broader base of assets.

“It will further diversify our existing portfolio of securities services with the addition of quality investment teams and products and provide us entry into diverse global investment markets which have become increasingly attractive for Chinese high net worth investors that look to spread risks and increase financial asset yield.”