Gao Teng Global Asset Management is expanding its product suite as it prepares for the rollout of its retail global emerging market bond offering in Hong Kong.
The Hong Kong-based firm, which is the joint venture between Tencent and Beijing-based Hillhouse Capital Group, has received approval from the Securities and Futures Commission (SFC) to launch the GaoTeng Emerging Market Fixed Income Fund, according to the regulator’s website.
FSA sought more information from the firm, but it was not able to provide details about its investment strategy in time for publication.
While the firm is relatively new to the market, it has been aggressive with introducing new products in Hong Kong, as well as targeting investors outside its home market.
After the firm was established in 2017, it launched its first SFC-authorised fund, the Asian Income Fund, in 2018. The firm has since launched three other retail products in Hong Kong, including two money market funds and the GaoTeng WeIncome Low Volatility Short Duration Fund.
In May, it started targeting global investors with the launch of its first Ucits fund, the Gao Teng Penguin Asia High Yield Fund. At the time, Gao Teng appointed Lemanik as the Ucits management company in Dublin and Brown Brothers Harriman as the fund administrator.
The firm is also eyeing opportunities in the mainland. In August, it filed an application with the China Securities Regulatory Commission (CSRC) in August this year to sell the GaoTeng Asian Income Fund to mainland investors via the Hong Kong-China Mutual Recognition of Funds (MRF) scheme.
The firm has two other strategies for professional investors, which are the Greater China Short-Dated High Income Strategy and the Emerging Markets Long/Short Fixed Income Strategy, according to the firm’s website.
