Martin Currie, APS enter strategic partnership
Martin Currie and APS Asset Management have announced the signing of a memorandum of understanding, which will result in a new strategic partnership focused on China investments.
The partnerhip will become partiucularly strong in China ‘A’ shares. APS has research teams in three different cities in China supporting its ‘A’ shares strategy.
In turn, APS will be able to make use of Martin Currie’s distribution platform and client management capabilities.
The deal is expected to complete by the end of September, with Martin Currie clients able to rely on APS portfolio managment starting from 1 November. At that time Martin Currie will become the primary distributor of APS products through its network of offices in Europe, the US and Asia.
Willie Watt, chief executive of Martin Currie said: “This new partnership will allow us to further strengthen our overall offering by partnering with one of the most highly regarded specialists in Chinese equities. APS has a robust investment philosophy and process which complements that of Martin Currie, as well as an outstanding long-term performance record and reputation. In addition they continue to invest heavily in their analytical base and have offices across the region including in Shanghai, Shenzhen and Beijing. We are absolutely delighted to be working with them.”
Wong Kok Hoi, chief investment officer and chairman at 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. Forming this alliance would have been unthinkable for our two strongly independent-minded firms some years ago. However, the pressing need today to build a successful investment firm of unquestioned quality makes it an enticing idea.”