Galaxy China opens up for Sweden
Galaxy Asset Management, based in Hong Kong, has launched its daily traded Galaxy China Absolute Return UCITS hedge fund in Sweden.
Galaxy China Absolute Return will be available to Swedish investors through local open architecture platforms Avanza Bank, fondmarknaden.se, MFEX, and Nordnet.
“We have for some time through our adviser OE Capital followed the development of fund savings in the Nordic region and Sweden. Our opinion is that Swedish investors are very interested in emerging markets such as China,” said Joe Chan, founder and manager Galaxy Asset Management.
“Through a daily traded hedge fund we as managers have better conditions through which to generate higher return at lower risk than a normal equity fund. It is also important to have an understanding of Chinese culture beyond pure macroeconomic and business knowledge,” he added.
“The fund will suit investors who want to take part in China’s growth, but at lower risk than a traditoinal China fund. It is traded daily and available on a European platform, UCITS III, which gives the investor a sense of security, high liquidity and transparency,” added Eddie Kir, marketing director at Galaxy.
Galaxy was founded in 1998 by Joe Chan, who previously held positions with Morgan Stanley in New York, London, Paris and Hong Kong. Today it manages institutional funds and mandates focused on ‘Greater China’, including China, Hong Kong and Taiwan.
Tom Engman, deputy chief executive and partner at OE Capital said his company had been working on notification and other administrative tasks linked to the launch since November last year.