T Rowe Price has partnered with Standard Chartered by introducing a new fund for the bank’s affluent clients in Hong Kong and Singapore through the Standard Chartered Funds Variable Capital Company.
The new fund debuted on 31 January and builds upon T Rowe Price’s $95bn US mixed asset strategy, marking the first time the strategy is available outside the US. The strategy is available to the bank’s clients with accredited/professional investor status.
The strategy aims to deliver equity-like returns with less risk than the S&P 500 through active allocation across US equity and fixed-income markets. The fund management team is led by David Giroux.
T Rowe Price and Standard Chartered first partnered together in January 2021, making two of T Rowe Price’s strategies available to Hong Kong retail investors.
“We are delighted to collaborate with Standard Chartered as the sub-investment manager of its first multi-asset solution. This partnership underscores our shared commitment to providing hard-to-access, custom-curated investment solutions to affluent investors in the region and beyond,” said Glen Lee, head of intermediary distribution for Asia ex-Japan at T Rowe Price.
“Our investment team’s contrarian approach, designed to capitalise on long-term mean reversion in markets, asset classes and sectors, aligns well with Standard Chartered’s advocacy for long-term strategic asset allocation as a foundation portfolio. Combined with the bank’s wealth expertise and extensive network, this offers sophisticated investors unique opportunities to navigate various economic and rate cycles ahead.”
“Through SC Funds VCC, we want to offer a suite of top-tier, hard-to-access strategies that are not available in other financial institutions across our footprint. We are excited to extend our partnership with T Rowe Price and provide our sophisticated affluent clients exclusive access to a unique investment strategy,” said Sumeet Bhambri, global head of advisory and managed investments for wealth solutions at Standard Chartered.
“As a leading international wealth manager, we are constantly innovating to expand our suite of wealth solutions and bring “best in class” investment opportunities to our clients.”
