Opalesque Industry Update - APS Asset Management Pte Ltd (APS) has signed a memorandum of understanding with Martin Currie to form a long term strategic partnership and become the world's leading independent China A share and Greater China active equity management business. The completion should be done at the end of September. |
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.
See last week's articles on China hedge funds: