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Fortis merges Asian equities and China investment centres
Fortis Investments is merging its Asian Equities and Greater China investment centres into one single, autonomous unit as it recognizes the strategic importance of the Asia ex-Japan region and Asian equities as an asset class for investors. This streamlining ensures that clients gain the maximum possible benefit from a centralised research platform. It also reflects Fortis' view that stock picking across sector rather than country lines should continue to gain in importance as a driver of excess returns. For the Greater China region, the addition of regional sector analysts will enhance the research capability greatly. Patrick Ho, head of Asian equities, will lead the combined investment centre, assisted by Desmond Tjiang as deputy head and CIO for Asia ex-Japan portfolios and Mandy Chan as CIO for Greater China funds. Their team will be one of the most comprehensive buy-side resources in the region running Asia ex-Japan portfolios today. Because of the change in investment approach, Ronald Chan is stepping down as CIO for Asia ex-Japan portfolios.
Fortis merges Asian equities and China investment centres
Fortis Investments is merging its Asian Equities and Greater China investment centres into one single, autonomous unit as it recognizes the strategic importance of the Asia ex-Japan region and Asian equities as an asset class for investors. This streamlining ensures that clients gain the maximum possible benefit from a centralised research platform. It also reflects Fortis' view that stock picking across sector rather than country lines should continue to gain in importance as a driver of excess returns. For the Greater China region, the addition of regional sector analysts will enhance the research capability greatly. Patrick Ho, head of Asian equities, will lead the combined investment centre, assisted by Desmond Tjiang as deputy head and CIO for Asia ex-Japan portfolios and Mandy Chan as CIO for Greater China funds. Their team will be one of the most comprehensive buy-side resources in the region running Asia ex-Japan portfolios today. Because of the change in investment approach, Ronald Chan is stepping down as CIO for Asia ex-Japan portfolios.
F&C and Hua Xia signs MOA on Chinese joint venture
F&C Asset Management has signed a Memorandum of Understanding with Hua Xia Bank agreeing in principle to form a joint venture fund management company in China. The move is a key milestone in F&C’s strategy of building a presence in Asia following the opening of its first office in the region, in Hong Kong, earlier this year.Hua Xia Bank is one of the twelve nationwide joint stock commercial banks in China and has seen strong growth since its incorporation in 1992. Hua Xia became the fifth listed bank in China in 2003 when it floated on the Shanghai Stock Exchange in 2003. Hua Xia now has 294 outlets in 31 cities, with a footprint covering 19 of the 22 Provinces in China. It employs around 10,000 people and has a global network of 464 correspondent banks.Alvin Chua, F&C’s Head of Distribution and Business Development for Asia, commented: “We are very excited about the prospect of establishing a joint venture fund management company in China with one of the premier banks as our partner. Hua Xia is a highly respected and successful bank and the proposed joint venture company will give us a foothold in a vast and fast growth market with 1.3 billion potential customers. As China continues to experience strong economic growth, we see excellent opportunities to help provide high quality investment products for both retail and institutional Chinese investors.”
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