With the Type 1 license from the Securities and Futures Commission, M&G is able to expand the scope of its marketing activities to professional investors in Hong Kong, a company statement said.
As part of this process, M&G has established a Hong Kong legal entity, M&G Investments (Hong Kong).
The company flagged off its Asia operations in 2012 and manages almost US$4bn for clients in Asia and has an office in Singapore too.
Responding to International Adviser’s query on the scope of license and future product roll outs, the company said, “the license enables us to sell and market our products through the private banking divisions of global and regional banks, as well as carrying out the relevant marketing and advertising activities,”
“We manages a wide range of investment strategies across equities, bonds, property and multi asset. Our aim is to focus on offering high levels of service to international banks and institutional investors that complement M&G’s efforts in Europe.”
At present, the company has a headcount of six in Hong Kong and eight in Singapore across various divisions including sales, marketing, administrative support and public relation, and the company is likely to soon ramp up operations appointing a compliance officer.
“We will be expanding the office in line with the increase in activities. Meanwhile, we are in the final stages of appointing a compliance officer in Hong Kong,” the company replied to a query on further hiring.
Andrew Hendry, managing director, M&G Asia, said in a statement: “This license permits us to show to Hong Kong investors how our tried and tested approach to investment has benefited clients across Europe and attracted assets of more than USD391bn.”
“M&G takes a long-term view, both in the management of client assets and in the building of its own business. Having established our operation in Asia in 2012 to service clients in the region, it is a natural next step to expand our marketing activities to fulfill the growing demand for our products among investors in Hong Kong.”
Headquartered in London, the company offers active investment strategies across equities, fixed income and real estate asset classes, managing assets worth £242.2bn ($391.3bn, €289.8bn), as of September-end.
