BEA to acquire stake in Golden Eagle fund

A $4 million deal can provide Bank of East Asia Ltd (BEA) entrance into China's fund market.

BEA, Hong Kong's fifth-biggest lender, plans to buy a minority stake in Golden Eagle Asset Management Co, seeking to tap rising Chinese demand for wealth management services, two people familiar with the situation said, according to the report in Reuters.

Initially, BEA's asset management unit will buy about one tenth of Golden Eagle from an existing shareholder, and may increase its stake in the small Chinese fund house at a later stage, one source told Reuters.

"This is a short cut for BEA to enter China's fund market," said Zhang Haochuan, analyst at Z-Ben Advisors. The Shanghai-based fund consultancy, which is not involved in the talks, estimates that the deal may be valued at about $4 million based on Golden Eagle's current size.

BEA and other foreign banks are seeking to broaden their revenue streams in China.

Follow the link for more news on

Also Read

SGX, Thomson Reuters unveil bond indices for benchmarking investment performance

AXA Real Estate raises ¥26b at launch of 2nd Japanese debt investment vehicle

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit