Bosera aims for MRF launch

Added 2nd September 2015

China-based Bosera plans to bring five funds to Hong Kong via the mutual recognition of funds scheme despite market volatility, currency depreciation and slowing GDP growth in the mainland.

Bosera aims for MRF launch

These five include one equity fund, three balanced funds and one fixed-income fund, said Laurence Lo, head of intermediary and mutual recognition at Bosera International, the Hong Kong-based subsidiary of Chinese fund manager Bosera Asset Management.

“An aging population here in Hong Kong is looking for more stable investment and peace of mind,” said Lo. “Thus balanced funds and fixed-income funds are their first options.”

The five funds were selected from more than 50 public funds offered by its parent company in the mainland based on their performance, size, stability of the return and standard deviations, Lo said.

The funds will mainly invest in large caps while targeting both retail and institutional investors. The company expects to market the first three funds around mid-October.

Hong Kong is the first step, Lo said, as Bosera is considering taking funds to Taiwan and Singapore.

Lo believes his firm's local knowledge gives it an edge over foreign rivals.

“Some foreign fund managers may have had their China A-share fund launched 10 years ago, but as China specialists, we believe in our local expertise and local presence in China really help us do all sorts of research and investment,” said Lo. "Just like doing business in emerging markets, local presence is really important."

The latest market volatility and currency depreciation has had no impact on Bosera’s plan to add new products, Lo said. He expects the yuan will devalue no more than 2% against the US dollar before the end of the year from its current level.

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