In September last year, a co-operation agreement was signed in Hong Kong and Shanghai between Luxembourg's Sparinvest Group and one of China's leading securities companies, Haitong.
Now Sparinvest welcomes a delegation of senior officials from Haitong to Copenhagen and Luxembourg as part of a European fact-finding tour. The visit indicates the strengthening ties between the fund industries of Luxembourg and China in general and between these two companies in particular.
Sparinvest and Haitong entered into their strategic partnership with the intention of working towards the development of joint products that would be of interest to investors in both China and Europe. As part of the cooperation, each company agreed to help the other to understand and gain access to its home market. Now senior officials from Haitong are visiting Sparinvest's Danish and Luxembourg offices for briefings and meetings designed to help them gain a greater understanding of the workings of Europe's financial services sector.
The delegation from Haitong includes:
Dr. Lin Yong, Group CEO, Deputy Chairman and the Managing Director of Haitong International Securities Group Limited.
Dr. Ben Y. B. Zhang, Managing Director of Hai Tong International Asset Management Limited and Hai Tong Asset Management (HK) Limited.
Dr. Yifan Hu, Managing Director, Chief Economist & Head of Research, Haitong International.
Commenting on the visit, Per Noesgaard, CEO of Sparinvest Group said:
"We aim to build a long term relationship with Haitong and as part of that we must learn to know each other and use each other's strengths. To date, Sparinvest has had the pleasure of three fascinating visits to Haitong in China. Therefore it gives us great pleasure to welcome Haitong to Europe where we will do all we can to assist their entry to the financial marketplace.”
One of the stated goals of Luxembourg is to bridge the gap between the Chinese and European markets for asset managers. Such alliances and visits will advance this ambition and help to give the Chinese delegation a greater insight into the framework of the European economy.
Another way to bridge the gap between China and Europe will be the joint product offerings planned by Sparinvest and Haitong. The first of these is expected in the near future.
"One of the original intentions behind the cooperation was to launch joint products as a way to gain access to each other's markets. Soon we expect to be able to offer European investors direct access to a manager with the Chinese market knowledge and asset management expertise through our Luxembourg fund structure. Further down the road, we intend to launch a product in China to give Chinese investors access to Sparinvest’s expertise," says Per Noesgaard.
In recent visits to China, Sparinvest was able to benefit from Haitong’s prominent position in the market to establish a number of contacts, including with some of the largest and most influential Chinese institutional investors.
"The Chinese market can be quite difficult for foreigners to enter, and requires local knowledge. So our co-operation with Haitong has undoubtedly given us an advantage already and it’s been a great opportunity for a boutique asset manager to show its unique competencies to some of China’s largest financial institutions," says Per Noesgaard.
Per Noesgaard, Dr. Lin Yong
Visiting Chinese embassy
About Haitong International
Haitong International Securities Group Limited is wholly owned by Haitong Securities Company Limited (“Haitong Securities”), one of the leading securities companies in China, providing comprehensive financial services for over 4 million retail clients as well as over 12,000 institutional and high net worth clients. Established in 1973, Haitong International has been listed on the Hong Kong Stock Exchange since August 1996. The Group provides total quality corporate finance, asset management and brokerage services to global and local institutional and corporate clients as well as individual investors, with the determined goal of becoming a leading global player in the industry, and a leader in the Greater China region. More information at www.htisec.com.
Founded in Denmark in 1968, Sparinvest is based in Luxembourg from where it operates internationally as a UCITS IV- authorised Asset Management Company. Sparinvest is owned by a broad range of Danish institutional shareholders who support the group’s independence and prudent investment strategy. Known as a specialist in value investment – both for equity and bond funds, Sparinvest has a long-term, risk-averse approach. Consistent with this longstanding focus on fundamental risk, Sparinvest is a signatory of the United Nations Principles for Responsible Investment, and integrates environmental, social and governance (ESG) risk factors into the investment process for all its funds and strategies. As well as being authorised to distribute investment products in 14 European nations, Sparinvest has strategic business alliances with Brandes in the US and Haitong International in China. At end December 2012, Sparinvest managed €9.1 billion on behalf of private and institutional investors. More information at www.sparinvest.eu