Investing.com - Tencent Holdings Ltd (HK:0700) and Hillhouse Capital Management Ltd. will start accepting funds from retail Chinese investors who have international assets, according to an email statement from the duo’s joint venture investment firm, GaoTeng Global Asset Management Ltd on Sunday.
GaoTeng’s first product will be a fixed-income fund which will open to investors in Hong Kong, the company said, although it did not specify a timeframe. A report from Industrial Bank Co. and Boston Consulting said Chinese people are expected to add more than $1.9 trillion to their international investments in the five years through 2020.
GaoTeng’s CEO Wayne Bi said in the statement: “We will be better able to serve Chinese clients because we understand Chinese clients better. We will design a select number of high-quality products that make sense for Chinese investors, helping them cut through a market that can often be homogenous and confusing to new participants.”