Chicago-based Tremont Capital Management is setting up shop in Hong Kong in order to target Asian private banks and institutional investors for its fund-of-hedge-fund products, says Billy Cheung, director of the firm's Asia division.
As part of this business strategy, the firm is also in the process of applying for an investment advisory license from the Hong Kong Securities and Futures Commission. Cheung says the firm has no plans at this time to target the retail segment in Hong Kong, but that Tremont would rather be prepared should it see an opportunity later. It may also apply for a similar license in Singapore to access sophisticated investors.
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