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New Zealand firm in HK gets asset management licence

New Zealand brokerage firm Blackwell Global has received approval from Hong Kong’s Securities and Futures Commission to operate as an asset management firm in the SAR, according to a statement from the firm.
New Zealand firm in HK gets asset management licence

The Hong Kong entity, Blackwell Global Asset Management, received licences this month for asset management, advising on securities and advising on futures contracts, according to SFC records.

The licences will allow the firm to offer asset management services involving listed stocks, fixed income and mutual funds, with a strong focus on the European, Greater China, New Zealand and Australian markets, the firm said in the statement.

It has also invested in investment specialists to advise clients on investment decisions and to help attain their financial objectives.

The business strategy in Hong Kong, such as targeted investor base and whether any mutual funds are planned, were not disclosed.

FSA sought more information from the firm, but it was not able to comment in time for publication.

Earlier this month, the firm’s CEO of the Hong Kong office, Gary Cheung, was appointed as director of the Financial Dispute Resolution Centre (FDRC) for a term of two years, according to a separate statement.

The firm said it established a Hong Kong presence in 2015 through its holding company, Blackwell Global Holdings, which is focused on investment solutions for private and institutional clients. Its network of companies in Hong Kong is focused on various products such as securities, futures, precious metals and forex.

Besides Hong Kong and New Zealand, its offices are located in the UK, Cyprus and Cambodia.

Part of the Mark Allen Group.