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He will report to Andrew Fung, head of insurance and investment at Hang Seng Bank, which is the second largest locally incorporated bank in the territory. In his new role, he will be responsible for regional business development and investment management.
A qualified Chartered Financial Analyst, Ho received his education at the Chinese University of Hong Kong. He worked for Chase, Fuji International Finance and HSBC Markets before moving to the HKMA in 1995. As at December 2006, the Hong Kong Exchange Fund, the reserve management division of HKMA, was valued at $150.6 billion û making it AsiaÆs twelfth largest institutional portfolio and the biggest in Hong Kong. This compares to Hang Seng's $29 billion portfolio, which stands at number three after Bank of China (Hong Kong).
In May 2007, Hang Seng Bank opened doors as a locally incorporated bank in China with 17 branches across the Mainland. It currently operates in Beijing, Shanghai, Guangzhou, Donguan, Shenzhen, Fuzhou and Nanjing, on top of the representative offices in Xiamen, Taipei and Macau. In these cities, it has permission to sell overseas investment products to Mainland residents, with a quota up to $300 million, under the qualified domestic institutional investor scheme.
Andrew Fung had no comment on HoÆs hire and the direction of Hang Seng Investments business.
Four out of the 63 funds Hang Seng Investment manages have received 5-star ratings from the independent rating agency Morningstar. These include: the Hang Seng CHN H-share Leveraged 150 A; the Hang Seng CHN H-share Leveraged 150 B funds; the Hang Seng Hong Kong Mid-cap Index Fund; and the Hang Seng HKD Money Market Fund.
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