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China’s Changjiang new player in HK’s fund industry

Changjiang Asset Management (HK) and Amundi have received authorisation this month from Hong Kong’s Securities and Futures Commission to sell their funds in Hong Kong, according to the regulator.


The Changjiang product, called the CJ Opportunity Fund, is the firm’s first SFC-registered fund, according to SFC records. The firm, however, has held licences for asset management and advising on securities since December 2011.

Changjiang AM manages a Greater China equities-focused absolute return strategy and also provides discretionary account management to its clients, according to the firm’s website. Its clients include professional and institutional investors in Greater China. The firm is a subsidiary of Changjiang Securities International Financial Group and is affiliated with Shenzhen Stock Exchange-listed Changjiang Securities Company.

The financial group also has a wealth management business in Hong Kong that provides insurance products, endowment saving, estate planning, retirement plans and others.

Amundi’s ‘disruptive’ product

Amundi’s Disruptive Opportunities Equity Fund also received approval from the regulator this month. In total, Amundi has at least 40 mutual funds registered under the SFC.

The disruptive product “invests in the shares of companies which are either established on or which benefit from, fully or partly, disruptive business models”, according to the fund’s profile.

FSA sought more information from Changjiang and Amundi, but both firms declined to give more information about their respective funds’ strategies and expected launch dates.

Separately, BOCHK Asset Management launched its BOCHK All Weather China Income Fund, according to a statement from the firm. The records show that the fund received approval to be sold in Hong Kong in June.

The fund aims to provide income and capital growth over the medium and longer term primarily through active asset allocation in a portfolio of fixed income and equity securities in mainland China, Hong Kong and Macau. It also aims to pay dividends on a monthly basis, the firm said, noting that dividends are not guaranteed and may be paid out of capital.

“During the stock selection process, we will give priority consideration to corporates which are industry leaders and less affected by economic cycles, with high barriers to entry and steady cash flows,” Carson Lam, BOCHK AM’s deputy head of equity, said in the statement.

Part of the Mark Allen Group.