Nordea Asset Management is planning to launch a new distribution platform in Singapore and to partner with a sub-adviser in Hong Kong or Singapore.
Following the launch, the asset management firm will start the distribution of its Ucits product range to Singapore and Hong Kong institutional and accredited investors, AsianInvestor has reported.
Philippe Graffart, head of fund distribution for Asia Pacific, was quoted by AsianInvestor, saying: "The firm, part of Sweden’s Nordea Group, will add one senior sales executive to the distribution platform in the Lion City by the year-end, and is likely to hire a second in January."
Graffart and these two executives will be responsible for selling the Nordea Ucits fund range, as well as funds managed by third-party firms, to institutions and accredited investors in Hong Kong and Singapore.
Nordea AM has no immediate plans to build an investment platform in Singapore and manage strategies out of the Lion City. The firm would prefer to partner with a sub-advisory firm specializing in Asian equity or fixed income.
Graffart said: "We’re in talks to start a partnership for Asian equity or fixed income in Hong Kong or Singapore. We probably won’t bring in portfolio managers and fund managers on the ground in this first stage."