UK-based Momentum Global Investment Management Limited has obtained approval from the Securities and Futures Commission of Hong Kong (SFC) to distribute its Luxembourg domiciled UCITS umbrella fund, Momentum Global Funds, to retail investors in Hong Kong.
According to Momentum, the approval from SFC has been obtained for its eight Harmony branded funds, which are sub-funds of the Momentum Global Funds Luxembourg Sicav, namely Harmony Asian Growth, Harmony Asian Balanced, Harmony US Dollar Growth, Harmony US Dollar Balanced, Harmony Sterling Growth, Harmony Sterling Balanced, Harmony AUD Growth and Harmony Euro Balanced.
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Momentum CEO, Ferdi van Heerden, said: "Asia is a key distribution focus for Momentum and the approval by the SFC for the Harmony funds will provide us with a substantially strengthened platform for our growth strategy in the region.
"The newly acquired authorization will enable us to build on existing relationships and extend our provision of innovative investment solutions coupled with first class client service."
Momentum said the authorisation of the funds in Hong Kong for distribution to retail investors is the latest step in the company’s expansion into Asia and the Middle East, having established strong links with these markets through strategic partnerships with wealth managers and intermediaries.
Additionally, the expansion includes the appointment of the Australian based Easton Asset Management, the Australian Stock Exchange listed sub-division of Easton Investments Limited as the global sub-distributor of the Harmony Funds.
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