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Alliance Trust PLC to launch new asset management business in HK
2006-10-16 01:56:09 Xinhua English

HONG KONG, Oct. 16 (Xinhua) -- Alliance Trust PLC, the largest generalist investment trust listed on the London Stock Exchange, announced here Monday that it will soon be expanding with the launch of a new asset management business in Hong Kong.

According to Alliance Trust PLC, its new boutique management company was called AT Asset Management (Asia-Pacific) Limited (ATAM).

ATAM is a wholly owned subsidiary of Alliance Trust PLC, based in Hong Kong. It plans to commence operations in the coming months.

ATAM will aim to manage a diverse range of products and services to meet the needs of both retail and institutional investors, according to Alliance Trust PLC.

The first area in which it proposes to manage new investment products is Asia-Pacific - a region which Alliance Trust believes will be a key driver in future world growth, and where it has already established an experienced team with a proven track record and direct on-the-ground exposure to the markets.

The initial funds to be managed by the new company are expected to be an Asia-Pacific ex-Japan equity fund and a Japanese equity fund for sale in UK.

Over the next 18 months ATAM plans to expand its investment team, and launch other new funds where it sees growth opportunities to deliver increased investment choice to investors, according to Alliance Trust PLC. Enditem

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