HFT Investment Management (HK) Ltd. (HFT HK) received approval from the Hong Kong Securities and Futures Commission to launch its first RMB mutual fund – HFT (HK) China RMB Fixed Income Fund.
The fund aims to provide its investors with stable capital growth in RMB terms. It primarily invests in RMB denominated fixed income instruments and can hold up to 20% of the portfolio in investments in Chinese equities.
HFT HK was officially established on November 25, 2010 and was granted securities advisory and asset management licenses by the SFC. HFT HK has been actively expanding into overseas markets by growing its international investor base. Its parent, HFT Investment Management Co., Ltd (HFT), plays a unique role in the market by virtue of its international origin as a joint venture between a Chinese and a European partner and its vast experience in managing and advising on QFII portfolios since 2004. As of September, 2011, the total AUM for HFT’s QFII and advisory business amounted to RMB 20.6 billion.
HFT HK’s Executive Director Jelle Vervoorn says: “Being given the green light to launch our first RMB mutual fund is another milestone on HFT HK’s path in becoming a full-fledged international asset management company. This fund perfectly fits in with HFT HK’s profile: offering Greater China investments to the offshore public.”