RELEASE – Value Partners appointed investment manager of US-registered closed-end investment company
(Hong Kong, 9 September 2013) — Value Partners Group Limited (“Value Partners”, and together with its subsidiaries, “the Group”, Hong Kong stock code: 806) is pleased to announce that Value Partners Hong Kong Limited, a wholly-owned subsidiary of the Group, has been approved as the investment manager of a US-registered closed-end investment company (the “Fund”).
Mr. Timothy TSE, CEO of Value Partners, is excited about the appointment. “We are honored to have been chosen as the investment manager for this long-standing and reputable fund, following a comprehensive selection process by the Fund’s Board of Directors. Our disciplined value-investing approach and extensive investment experience in Asia Pacific securities enable us to identify opportunities in the region. We look forward to leveraging our strong local presence and research capabilities to deliver value for stockholders of the Fund,” he said.
Launched in 1987, the Fund is a diversified, closed-end management investment company, listed on the New York Stock Exchange. Its investment objective is to achieve long-term capital appreciation through investment primarily in equity securities in Asia Pacific countries (excluding Japan). As of 30 June 2013, AUM of the Fund stood at US$115 million.
The appointment was approved at a special meeting of stockholders on 6 September 2013 and will be effective 1 October 2013. Value Partners has agreed to manage the Fund in accordance with its current investment objective and fundamental investment policies and fee structure.
– End –
About Value Partners Group Limited
Value Partners is one of Asia’s largest independent asset management firms with unaudited assets under management of US$8.8 billion as of 31 July 2013. Since its establishment in 1993, the firm has been a dedicated value investor with a focus on the Greater China region. In November 2007, Value Partners Group Limited became the only asset management firm listed on the main board of the Hong Kong Stock Exchange (Stock code: 806 HK). Value Partners manages absolute return long-biased funds, long-short hedge funds, exchange-traded funds, quantitative funds, as well as fixed income products for institutional and individual clients in Asia Pacific, Europe and the U.S.
For more information, please visit www.valuepartners.com.hk.
Media enquiries:
Value Partners Group Limited
Teresa Yu
Associate Director, Marketing and Communications
Email: teresayu@vp.com.hk
Tel: (852) 2143 0320