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APS will leverage Martin Currie’s distribution platform, and the latter will be APS’ primary distributor worldwide.

In the announcement released today, Mr Wong Kok Hoi, chairman of Singapore-based APS, said: “Competition in our line of business is intensifying. Hence, instead of competing with one of the industry giants, I decided it is more sensible in the long-term to pool resources with Martin Currie in building a highly competitive China team.”

The A-share class is designed for Chinese residents; only a handful of Qualified Foreign Institutional Investors (QFII) are allowed to trade in them. Most foreign investors invest in US$, in Hong Kong markets, and trade in H shares, instead of A shares, Hedge Fund Research told Opalesque in a recent interview.

APS manages five hedge funds: APS Far East Alpha Fund; APS Japan Alpha Fund; APS Greater China Alpha Fund; APS Greater China Long/Short Fund; APS Asia-Pacific Hedge Fund – and a retail fund, the APS Alpha Fund. It has research teams across three different cities in China supporting their market leading China ‘A’ share strategy.

Martin Currie, a specialist investment management business head-quartered in Edinburgh and with around $16.2bn in AuM, has been active in China since 1994, and was among the first foreign institutions to be awarded a QFII license in 2005.
B. Gravrand

See our most recent article on APS:
Opalesque Exclusive: APS Greater China Alpha Fund down -5.7% in May (-6.3% YTD) on slowdown of China’s economic growth Source

See last week's articles on China hedge funds:
Opalesque Exclusive: All about China hedge funds – How can investors take part of the China play (Part III) Source
Opalesque Exclusive: All about China hedge funds – Nearly 300 hedge funds are now located in Greater China (Part II) Source
Opalesque Exclusive: All about China hedge funds - New tools since last year (Part I) Source