The move is expected to meet the long-term savings and retirement investment needs in Hong Kong.
The New Perspective Fund will be Capital Group’s first fund available through the Ilas. It aims to benefit from changing global trade patterns by focusing on established multinational companies and those poised to be leaders of the future.
Thomas Quantrille, managing director of Capital Group Asia, said: “AIA’s strong brand name, established presence and extensive knowledge in the local market will be vital to our growth in Hong Kong, and eventually in other markets in Asia as we expand our partnership in the future.
“The New Perspective Fund was launched in Asia from one of our flagship strategies in the US, which has a 44-year stellar track record,” he added.
Quantrille said he expected to make more “joint introductions of investment products with AIA” that would cater to specific Hong Kong demographics and lifestyle patterns.
Capital Group has employed a distribution strategy in Asia of partnering with key institutions in important markets, often with agreements that include product development, sales training and marketing support.
AIA will be Capital Group’s first insurance partner in Hong Kong.
