GLOBAL - Asia specialist Atlantis Investment Management has tapped institutional appetite for China by raising US$18m (E17m) for its regional fund.
Dealings in the Atlantic China Fund’s 1.8m shares, which were listed on the Irish Stock Exchange this week, commenced at US$10 each. The minimum investment level is US$25,000. Redemption dealings start after October 18, 2003.
The fund targets both high net worth and institutional investors, but is not open to unsophisticated investors in the UK or any investors in the US.
The fund’s investment manager will be Hong Kong-based Yang Liu.She will invest predominantly in Chinese small-to-mid-caps listed in Shanghai, Shenzhen and Hong Kong. Up to 10% may be invested in pre-IPOs.
Lui will use a bottom-up/long-only stock-picking style. Mainly B-shares, H-shares, Red Chips and P-Chips will be purchased.
Commenting on the fund, Liu said: “We are expecting China to eclipse Japan by 2010 as the Asia Pacific region’s largest stockmarket, so we regard China as a huge buying opportunity right now.
“Our message is getting through to the international investment community.”
Liu joined Atlantis in April 2002 as a fund manager in Hong Kong where she heads Atlantis’ China investment and research team. Prior to that she spent some 14 years as an economic researcher and fund manager with the China International Trust & Investment Corporation. Atlantis Investment Management is an independent fund manager based in London, with regional offices in Seoul and Tokyo also.
At the end of February 2003, Atlantis had approximately US$683m of assets under management.
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