The firm is the first offshore asset manager set up by a regulated asset management company in China to establish operations in Singapore.
CSOP Asset Management, one of China's largest and most established offshore asset managers, has opened an office in Singapore, the firm announced in a press release on Wednesday.
It hopes to use its Singapore office as a regional base to facilitate and offer clients in the region with investment opportunities in China’s capital market, the release said.
CSOP said that Singapore was a «natural choice» for its second office, citing the city-state's financial infrastructure, transparent and friendly regulatory environment, attractive tax policy and access to investors.
Focus on Private Wealth
The firm will focus on building a sustainable family office and external asset management business and will provide a range of quality products and services tailored to high net worth individuals in the region, the statement said.
It will also conduct institutional distribution by offering investment management solutions to targeted clients including financial institutions, sovereigns, corporates and family offices.
CSOP Singapore also has plans to build a portfolio management team and explore sharia-compliant investment products, as well as explore collaboration opportunities with asset managers and sovereign wealth funds.
Extension of Hong Kong Business
The Singapore office extends the firm's Hong Kong business, which was established in 2008 and has built a strong track record in RMB Qualified Institutional Investor and exchange-traded funds. The firm noted that around half of the top 10 most traded ETFs in Hong Kong are its products.
«Local presence gets us closer to our existing clients in this region,» said Ding Chen, chief executive officer of CSOP Asset Manager, said about the opening.
«More importantly, it enables us to gain more in-depth knowledge about the market and consequently helps us better present our China investment intelligence and investment opportunities to the investors in this region.»
