2016
08-07
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Futures Daily: PRC hedge funds seem more interested in offshore development, service providers seek transition
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From the beginning of the second half of 2015, the pace of private equity firms to embrace foreign investments gradually accelerated. “This is the sign that the overall consciousness of mainland private equity industry has a certain degree of awakening.” Will Li, Executive Vice President of Oriental Patron Investment Management (‘OPIM’), said in a recent interview of Futures Daily, that before the end of the unilateral appreciation of the RMB in 2015, the vast majority of the mainland private equity firms only focus on A Share. With the devaluation of RMB, interest rate goes downwards, resulting the margin from currency arbitrage narrowed; the capitals flow out of China. The private equity industry has gradually begun to understand the new meaning of the asset management in the new era. At the same time, Mainland regulators are formalizing the regulation of private equity industry.

 

Over the past two years, the regulations of the private equity fund industry have become increasingly strict, which pushes private equity firms seek for foreign opportunities. “Mainland regulation of private equity is not weaker than outside. Similar rules in the overseas market have been implemented for twenty or thirty years. Sensitive fund managers are also starting to focus on global asset allocation in order to meet the investors’ needs in the new era.

 

Rooted in Hong Kong, Oriental Patron Investment Management (‘OPIM’) has over 20 years of experience in asset management. In 2008, OPIM began to cooperate with the independent fund managers, providing all kinds of services regarding to offshore fund, including fund construction, launch, operation, etc. To date, OPIM have signed agreements with more than 30 independent investment funds. “Our Early customers are foreign fund managers who focus on Asian hedge funds. We entered the mainland market in the fourth quarter of last year and have already formed partnerships with more than 10 Mainland fund managers.

 

“Based on our experience, providing offshore fund services usually requires more attention on details than providing services to foreign fund managers. Mainland private equity firms do not have a clear idea about the operating norms of foreign markets. When it comes to communications, it is a totally different story.  For example, when arranging meetings with service providers, foreign fund managers do not need our additional works. While for mainland fund managers, because linguistic and cultural differences lead to do a lot of translation work we need to accompany them. In Hong Kong, firms generally provide services during work time only. But after working with mainland customers, we have to be on standby for 24 hours.” Will Li observed. 

 

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