Baring Asset Management will launch a range of Hong Kong domiciled funds, which it plans to bring to market in early 2015, subject to regulatory approval.
Barings has appointed HSBC as administrator, trustee, transfer agent and custodian for the fund range.
“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,” said Gerry Ng, CEO of Barings Asia, excluding Japan.
“The development of a local fund range also positions us to take advantage of the anticipated mutual recognition platform between Hong Kong and China and the increased demand for locally domiciled funds that we expect to follow.”
Barings has been active in China for over 220 years and opened its first office in Hong Kong in 1973. The firm manages assets in excess of $14.4bn in Asia ex-Japan of which $3.7bn is in China/Greater China and employs over 130 staff in that region.