Value Partners' AUM rises in volatile 2015

Added 14th March 2016

Hong Kong-headquartered Value Partners Group said its assets under management rose 21% to a record high of $15.6bn to end 2015, but market volatility hit operating profit.

Value Partners' AUM rises in volatile 2015

The firm, which is listed on the Hong Kong Stock Exchange, reported that net sales jumped to an all-time high of $4bn, more than double the previous year’s net sales of $1.9bn.

However, the stock market crash in China during the second half of the year had an impact on the group’s overall income. Profit attributable to owners of the firm plunged 66% to HK$274m ($35m) from HK$804m a year earlier.  

Year-on-year performance fees dropped by more than half to HK$309m from $659m. However, management fees increased 53% to HK$1.1bn.

Timothy Tse, CEO, remained optimistic about the business outlook. He believes China's efforts to open its capital markets presents some “compelling opportunities" for his firm.

During 2015, the firm's high dividend fund contributed $1.5bn to net inflows during the year. Officials believe the fund was well received by investors during a period of market volatility, as it offered a relatively defensive strategy with income distribution feature.

The firm noted several initiatives in 2015. Via the Mutual Recognition of Funds, it has submitted its flagship Value Partners Classic Fund to the China Securities Regulatory Commission for approval so that the product can be sold to investors in the mainland.  

During the year, the group expanded outside of Greater China. Its Singapore unit was granted a license to offer investment products and services to accredited investors and institutional investors in Singapore.  

The unit also partnered with Affin Hwang Asset Management, an asset manager in Malaysia, to launch a feeder fund that invests in Value Partners High-Dividend Stocks Fund.  

In December, its first US fund aimed at the US retail market, the Aston/Value Partners Asia Dividend Fund, was launched. 

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