Sparinvest Holdings SE has entered a Heads of Agreement with Hai Tong Asset Management Limited...
... that will see both companies working towards future joint-product offerings in Europe, Hong Kong, Macau and Mainland China.In January 2011, Sparinvest entered a similar agreement to cooperate with the North American Group, Brandes Investment Partners, L.P.
In the space of just under two years, the asset management company, Sparinvest Holdings SE (originally of Denmark but now based in Luxembourg) has entered into agreements with two major international asset management institutions – first Brandes Investment Partners, L.P. in the U.S. and now Hai Tong Asset Management (HK) Limited in Asia. HTAM (HK) is a wholly owned subsidiary of Hong Kong-listed Haitong International Securities Group Limited (“Haitong International”; HKSE Stock Code: 665.HK), which is in turn the Hong Kong arm of Haitong Securities Company Limited (SSE Stock Code: 600837.SH; HKSE Stock Code: 6837.HK), one of China‟s leading securities companies with a retail client base of over 4 million as well as over 12,000 institutional and high net worth clients.
Under the agreement, both firms will continue to focus on their core asset management activities as before but agree to dedicate research capacity to exploring the best ways to bring joint products to markets in Europe, Hong Kong, Macau and Mainland China. The alliance has an indefinite term, and does not call for either firm to invest capital in the other.
Dr Lin Yong, Deputy Chairman and Chief Executive of Haitong International, and Mr Per Noesgaard, CEO of Sparinvest, officiated at the Heads of Agreement Signing Ceremony yesterday in Hong Kong. At the ceremony, Dr Lin said:
“Globalization, combined with an increasingly sophisticated and fast-growing business environment, has resulted in greater interest from clients in products and services from other markets. Therefore, one aspect of the Group’s strategies has been to team up with leading securities firms and fund management companies across the world, including the U.S., Europe and Asia Pacific, to offer overseas products aimed at providing one-stop global investment services to investors. In return, our partners and their clients can benefit from our Group’s services, enabling them to participate in Hong Kong and the other markets where we specialize. Thus the collaboration makes great sense for both parties.”
According to Sparinvest‟s Per Noesgaard, agreements like this one offer a bridgehead into markets that would be difficult to explore and develop single-handedly. The agreement allows both companies to utilize each other‟s strengths, as Sparinvest will gain access to not only the Chinese market through the development and distribution of future joint products, but also specialist Chinese investment expertise and access to investment products denominated in Renminbi.
“Our new relationship with Haitong International emphasizes our international ambitions, and gives us a unique and exciting opportunity to expand our global presence. We are Value oriented in everything we do, and the agreement offers an interesting perspective for us to offer truly global value solutions to investors across the globe”, he said.
Luxembourg – a visionary financial regulator
Regulators have been working since 2006 to establish a „bridge between Europe and China‟. In 2008, a Memorandum of Understanding (MoU) was signed between Luxembourg‟s Commission de Surveillance du Secteur Financier (CSSF) and the China Banking Regulatory Commission (CBRC), clearing the way for Luxembourg fund management companies to reach investors from the booming Chinese fund industry. Creating a joint venture with a local partner is the preferred way of entering the Chinese market for foreign Fund Management Companies.
About Haitong International
Haitong International Securities Group Limited (“Haitong International” or “the Group”; Stock Code: 665.HK) is a subsidiary of Haitong International Holdings Limited (“Haitong International Holdings”), a company incorporated in Hong Kong and wholly owned by Haitong Securities Company Limited (“Haitong Securities”). Listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange (Stock Code: 600837.SH; 6837.HK), Haitong Securities is 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 is well-known for providing 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. The comprehensive and quality financial services delivered by Haitong International have been widely recognized by the industry. The Group has been named the “Best Equity House in Hong Kong” by numerous international, mainland and local institutions for 13 consecutive years since the year 2000. More information at www.htisec.com.
Founded in 1968 in Denmark, and with pan-European operations in Luxembourg since 2001, Sparinvest is an international asset management company with authorization to distribute its products in 16 European nations. The group is known as a specialist in Value investment – both for equity and bond funds. Sparinvest is owned by a broad range of Danish institutional shareholders who support the group‟s independence and prudent investment strategy, focused on providing competitive risk-adjusted long-term returns. As a natural step to further enhance its risk-focused approach, Sparinvest signed the United Nations Principles for Responsible Investment in 2009 and has now integrated environmental, social and governance (ESG) risk factors into the investment process for all its funds and strategies. At end 2011, Sparinvest managed €9 billion on behalf of private and institutional investors across Europe. More information at www.sparinvest.eu.
For further information, please contact:
Sparinvest Holdings SE
Nichola Marshall, Senior PR & International Marketing Manager
Tel: +352 26 27 47 32