Barings to launch Hong Kong domiciled funds next year

11 June 2014   Category: News, Asia, China, Global, Hong Kong   By Derek Au

Baring Asset Management (Barings), which has AUM in excess of US$14.4 billion in Asia ex-Japan, said it will launch a range of Hong Kong-domiciled funds early next year, appointing HSBC as custodian.

The move by Barings, subject to regulatory approval, came on the back of the announcement of Hong Kong and Mainland China’s intention to implement a mutual recognition of funds scheme.

Gerry Ng, chief executive officer, Asia ex-Japan, Barings, said: “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. Initially we plan to launch a focused range of locally-domiciled funds in Hong Kong, drawing on our deep pool of asset management expertise.”

Barings has decided in principle to appoint HSBC as the administrator, trustee, transfer agent and custodian for the funds.

Barings has had a long presence in China and opened its first office in Hong Kong in 1973. It managed its first dedicated China fund in 1985 and was an early investor in the Mainland’s domestic A-shares market.