Alliance Trust PLC, the largest generalist investment trust company listed on the London Stock Exchange, announced it will soon be expanding with the launch of a new asset management business - 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.
The new boutique asset management company will aim to manage a diverse range of products and services to meet the needs of both retail and institutional investors. 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.
Commenting on the launch of the new business, the Chief Executive of Alliance Trust PLC, Alan Harden said: "The launch of our new asset management subsidiary in Hong Kong will be the first stage of our business expansion in the region. We are very excited by the new opportunities brought about by the establishment of ATAM in Hong Kong which we believe will make a significant contribution to the group."
The Associate Director-General of Investment Promotion at Invest Hong Kong, Simon Galpin, said: "The addition of Alliance Trust will enrich Hong Kong's pool of premier financial institutions and further increase the range and depth of financial products available for regional investors."
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