Wellington Management has launched four new funds in Hong Kong, expanding its presence into the city’s evolving retail investment segment.
The four UCITS funds, consisting of one growth fund and three income funds, bolster the US-based investment manager’s offering in Asia and its global institutional investment capabilities in the retail segment.
The new funds will offer individual investors in Hong Kong solutions focused on income distribution, diversification and capital growth opportunities.
Wellington senior managing director and head of Client Group for the Asia Pacific said: “Hong Kong is integral to our Asia strategy and today’s launch is a natural client-servicing progression and an extension of our business commitment to the market.
“Our partners are increasingly merging their private banking and consumer banking units globally – and are looking for products that can be offered across their private and mass affluent client base.”
Wellington is developing its UCITS range across equities, fixed income and multi-asset for the wealth channel across Asia.
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By GlobalDataThe firm rolled out retail funds in Singapore at the end of last year.
Wellington Global Wealth Management Group Asia Pacific managing director Samuel Hui said: “Retail investors are becoming more particular in what they invest in, showing a growing appetite for products that are supported by a deep, research-based platform and are focused on diversification and growth opportunities – something that Wellington, and our history of investment excellence, is well-placed to provide.”
Last year, reports said that Wellington was planning to increase its Asia headcount by 20% as part of its plan to capitalise on the evolving wealth in the region.