Hong Kong-based Enhanced Investment Products (EIP) launched the Enhanced HKD Yield Fund this month, according to documents gathered from the Securities and Futures Commission. The firm received authorisation from the regulator in late September, SFC records show.
FSA sought more information from EIP, but the firm was not able to reply about the new product in time for publication.
The fund will invest in Hong Kong dollar-denominated fixed income instruments, including government and corporate bonds, according to the product statement.
The actively-managed vehicle comes just after management decided to delist a smart-beta ETF that invests in Asia-Pacific (ex-Japan) companies. At the time, the product had HK$24.7m ($3.15m) in assets, according to an announcement on the product’s delisting.
The firm manages two other ETFs: the Xie Shares FTSE Gold Miners ETF, which has assets of HK$37.1m and the Xie Shares FTSE Chimerica ETF, with assets of HK$102.3m, according to data from the Hong Kong Exchange.
The firm also manages a leveraged ETF product, the Chimerica FTSE N Sh Daily (2x) Leveraged Product, with an AUM of HK$14.3m.
Although the firm’s HKD Yield Fund is its first actively-managed retail fund, the firm has been managing hedge funds for professional investors since 2002, according to the firm’s website.
Separately, EIP hired in March Daniel Turner to head the investment team for Asia. Turner is responsible for the investment decisions across all EIP platforms, including the management of traditional and hedge funds and the firm’s ETF platform, Xie Shares.
Another firm that launched funds this month is Barings, which rolled out its Global High Yield Bond Fund and the Global Senior Secured Bond Fund, according to SFC records. Both products focus on the fixed income markets of North America and Europe, according to their prospectus.
