Multi-family office Carret Private Investments will merge its Hong Kong private wealth management business with an independent firm.
Kenneth Ho, a managing partner and one of the founders of Carret Private, remarks in a statement sent on Friday: «We are very excited to merge our wealth management franchise with that of QL Asset Management. Carret has more than 50 years of history in creating long-term value for its clients, and we believe that the philosophy and track record of QL perfectly suits the needs of our clients here in the region.»
QL, an independent wealth management firm registered with the Securities and Futures Commission of Hong Kong, was established in 2014. Leveraging on its substantial and diverse global network of private and institutional investors, the company specialises in wealth management and hedge funds consisting of experienced experts in the financial, corporate and legal sectors.
Long History
Young Jeong Kim, managng partner of QL, adds: «The merger of our two firms will help us to continue the strong growth that we have achieved over the last year. We are confident that there will be many marketing synergies to expand into new markets.»
Carret Private provides wealth management, principal investing and corporate advisory services to select high-net-worth families and individuals throughout Asia. It is an affiliate of Carret Asset Management (CAM), a multi-billion-dollar investment manager based in New York which was founded in 1963 by Philip L. Carret.
The Art of Speculation
Carret is widely regarded as a Wall Street icon and investment legend. He first introduced value investing in a series of «Barron's» articles in 1927 and further described the concept in his 1930 book, «The Art of Speculation». He put his ideas into action in 1928, when he founded one of the world's first mutual funds, the Pioneer Fund, which he managed with great success for more than half a century. In 1963, seeking to provide personalized investment services, he founded CAM.
