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Alternative Market Briefing

APS Asset Management to expand in China after obtaining QFII license

Tuesday, January 08, 2013

From Precy Dumlao, Opalesque Asia – Singapore-based APS Asset Management announced plans to expand its operations in China after securing a qualified foreign institutional investor (QFII) license. It is one of the nine firms to be awarded licences late last year by the China Securities Regulatory Commission (CSRC).

APS, which name stands for Asian Portfolio Specialist, is a boutique fund management firm that manages $2bn in AuM, spread along five long only products and two long/short products.

A report by said that APS is looking to hire more personnel in China as part of its expansion plan. APS already has offices in Beijing, Shanghai and Shenzhen.

The firm is currently in the process of applying for a QFII quota. It has been managing QFII assets since 2004 but without a quota, often borrowing it from brokers or clients.

Wong Kok Hoi, chief investment officer of APS Asset Management, was quoted by AsianInvestor as saying, "The quota that we obtain will partly be used to replace the brokers’ quota, which has been used primarily for our China A-share fund. We have no plans to launch new products. As we also have investors waiting to subscribe to our fund, we hope to get enough quota to satisfy this demand as well."

He expects major changes in China in the coming years with the ......................

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