New Star International, a boutique fund manager based in the United Kingdom, has just received authorization from Hong Kong's Securities and Futures Commission to promote an umbrella fund of equity and fixed-income products here. New Star is now in the process of sorting out distribution via private banks and independent financial advisors.
In particular it wants to establish an exclusive relationship with one of the major commercial banks in Hong Kong to jointly promote the new offering. Philip Goldsmith, Dublin-based managing director of the firm, says New Star is now in talks with several potential partners. It is also on the watch list of several private banks, which require the newly authorized funds...
