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Hauck & Aufhäuser receives approval for distribution of its own funds in Hong Kong to retail investors
The bank intends to support its fund initiators in authorizing and distributing their funds in Hong Kong
Clients receive access to Fosun's distribution network
Hauck & Aufhäuser, represented by its Luxembourg-based management company Hauck & Aufhäuser Fund Services S.A. (HAFS), has licensed its first Luxembourg mutual fund for public distribution to retail clients under the Mutual Recognition of Funds (MRF) between Hong Kong and Luxembourg, in force since January 2019. The first fund to be approved was the own H&A Aktien Small Cap EMU of the asset manager H&A Global Investment Management (HAGIM).
The distribution of fund products in Hong Kong and China was previously mainly the focus of large European and global fund providers. With Hauck & Aufhäuser, smaller fund boutiques can now also be given access to Hong Kong from Luxembourg. As the second largest fund location worldwide, Luxembourg offers fund initiators an innovative and rapidly developing financial environment in which the expertise of all market participants is bundled. "The access to the financial center of Hong Kong via our company in Luxembourg adds another clear USP to our service spectrum in asset servicing," explains Holger Sepp, member of the board at Hauck & Aufhäuser.
This USP is based on the bank's partnership with the Chinese investor Fosun, which owns the company since 2016. In this context, Hauck & Aufhäuser is aiming at providing business partners with access to China. For this purpose, the bank has set up the China Desk department, which was responsible for the fund distribution authorization process together with HAFS at Hauck & Aufhäuser. "In the next step, we will concentrate on successively expanding our sales network for institutional and retail investors locally. Thereby, we use the synergies resulting from the cooperation with Fosun for the benefit of our customers", adds Jian (Helen) Liang, Head of China Desk at Hauck & Aufhäuser. For the bank, the successful distribution authorization for funds in Hong Kong is a milestone in its own internationalization strategy.
Hauck & Aufhäuser is looking back on a tradition of 224 years.. The bank was created through the merger of two highly traditional private banks: Georg Hauck & Sohn Bankiers, founded in Frankfurt am Main in 1796, and Bankhaus H. Aufhäuser, on the market in Munich since 1870. The two banks merged in 1998. The Management Board of the bank comprises the Chairman, Michael Bentlage, and the Management Board members, Dr. Holger Sepp and Robert Sprogies. Hauck & Aufhäuser considers itself to be both a highly traditional and, at the same time, a highly modern private bank.
From its corporate locations in Frankfurt am Main, Munich, Hamburg, Düsseldorf, and Cologne, the bank focuses on delivering holistic advisory and management services to its private and corporate clients, managing the assets of institutional investors, providing comprehensive fund services for financial and real assets in Germany, Luxembourg and Ireland, as well as the successful cooperation with independent asset managers. In addition, we offer research, sales and trading activities specializing in small and mid-cap enterprises in German-speaking countries as well as tailored services for IPOs and capital increases. The main focus of our business activities is on providing holistic and personal advice as the basis for developing tailored solutions.