Harvest Global Investments, the international asset management arm of China’s Harvest Fund Management, has made a number of appointments to boost its ability to serve international investors with more visible sales and marketing as well as evolving distribution.
The appointments include:
- Ruiqi Wang, executive director, head of China Sales, who will develop business for international clients wishing to invest in Chinese markets as well as liaising with mainland Chinese financial institutions wishing to conduct business globally. Previously at Deutsche Bank, she is based in Hong Kong.
- Yuki Nishio, vice president, head of Japan and Korea Sales, will focus on key institutional and wholesale clients. Previously at Mirae Asset Daewoo Securities, she has over 10 years of experience covering corporate and institutional clients. She is based in Hong Kong.
- Sirinda Flik, Regional Business Development manager, will focus on distribution for European clients and is based in London, United Kingdom. She has eight years of experience in the asset management industry, including at Legal and General Investment Management and Willis Towers Watson.
- Angela Wang, vice president, Business Development, will focus on distribution for US clients and is based in New York. With over eight years experience in institutional sales, she previously worked at HGI in London, as well as at BOCI and BoA Merrill Lynch in Hong Kong.
- Joyce Lui, vice president for Marketing and Business Development, will coordinate strategic marketing and communications activities with HGI’s global sales teams, as well as providing media and PR liaison with outside agencies. She is based in Hong Kong.
The appointments will support the management group’s ongoing business development plans, including its investigation into how and when to launch a Ucits product that would appeal to investors based in Europe.
Ashley Dale, speaking to InvestmentEurope on a recent trip from Asia, said that the overall approach to product development for investors interested in China would have to identify areas in the fund market not currently served well by other providers, as well as leveraging the key strengths of Harvest Global, such as its on-the-ground presence in a number of Chinese cities, giving access to businesses in a different way than for those managers who invest from afar or who do not have a background specialising in Chinese equities.
The Asian presence of Harvest Global also explains why the bulk of the new appointments are focused on Asian markets. There is a relatively strong presence in the region already by the manager, but it is important to focus on experienced people rather than additional offices for these markets, Dale said. For example, the appointments relating to the Japanese and Korean markets is important because of how institutional buyers there have been turning to non-domestic assets. There will be more activity directed towards the Taiwan market also as a result, he added, as well as toward the Singapore intermediary market, and he sees potential in the Australian pensions market, given the size of the superannuation savings.
“If you want to buy China, do you want to partner with someone who really knows China?” Dale asks rhetorically, noting that Harvest Global has presence across 10 cities in China and has been running significantly sized mandates on behalf of some of the world’s largest asset owners, which are themselves Chinese.
A challenge that faces both this and other local manager brands looking to build presence in Western markets is how to explain local presence and expertise in a way that Western investors can understand. Dale said that he would like to position the firm along a “Invest China. Think Harvest” presence in investors’ minds. He said he sees opportunity to capture a sizeable share of the market for overseas owners of Chinese assets.
Harvest Global Investments is the Hong Kong-based wholly owned subsidiary of Chinese firm Harvest Fund Management, which was established in Beijing in 1999. AUM at the group level as of December 2016 was $110bn, managed by some 200 investment managers on behalf of a claimed 50 million customers.