First Chinese manager launches in UK
Ahead of a state visit to the UK by Chinese president Xi Jinping, GF International Asset Management has annnounced it has chosen London to begin its expansion outside Asia.
This marks the first time a wholly Chinese owned manager has established itself in Europe, GF International said in a statement on the move, which comes after it recently received authorisation from the UK Financial Conduct Authority to act as an investment manager across Europe.
Chuanhui Lin, CEO of GF Fund Management, said: Our company’s establishment in the UK bridges investment management between China and Europe. The strong growth of the Chinese economy presents exciting prospects for European clients. Additionally, as Chinese investors become more sophisticated, their need for global diversification is increasing. We are entering a golden era in China-UK relations, making GF International well-positioned for success.”
The phrase ‘golden era’ has been used by the UK government in recent days to illustrate the importance it attaches to trade between the two countries. Last month the UK chancellor George Osborne spent a week visiting China.
Miller Guo, CEO of GF International, said: “GF International has close links to mainland China which enable us to deliver investment management expertise in Chinese markets directly to European clients. Our localised European team and products will help investors seize opportunities in China in a way they are familiar with. We are proud to lead the drive of Chinese investment in Europe and beyond. We wish to thank UK Trade & Investment for the welcome and support they have extended to us.”
GF International said it chose London over other European financial centres as an “obvious choice”, given factors such as its position as the largest offshore RMB hub outside Hong Kong, and the access it offfers to the international investment community.
As a fund profider GFI will focus on investment products offering acess to Chinese assets, as well as advising global institutions that have Qualified Foreign Institutional Investor (QFII) and Renminbi QFII (RQFII) quotas.