Wave of China sunshine funds coming to HK
At least a dozen Chinese private-trust firms may set up in Hong Kong next year, potentially by acquiring an existing business. But most still lack awareness of global regulatory standards.
A growing number of sunshine private-trust funds* – China’s equivalent of hedge funds – are considering establishing operations in Hong Kong with a view to raising money from global investors.
A dozen or more hope to set up in Hong Kong next year "based on the conversations we’ve had”, says one senior consultant based in the city. One is Shanghai-based TrustBridge, which manages the equivalent of about $2 billion.
These firms manage renminbi-denominated pools set up by trust com…
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