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Tremont To Tap Asian Hedge Fund Demand From Hong Kong

by Phillip Morton, Investors Offshore.com

05 December 2006


Tremont Group Holdings, a leading investment manager of fund of hedge fund products, has announced the roll out of its operations in Hong Kong after recently obtaining a licence to operate in the jurisdiction from the Hong Kong Securities and Futures Commission.

Tremont's Hong Kong office intends to deliver fund of hedge fund products and portfolio solutions to an expanding base of local and regional private banks, institutional clients and qualified high net worth investors, the company said.

Funds of hedge funds typically invest in a number of individual hedge funds, and seek to create a diversified portfolio of funds with the aim of delivering similar return characteristics, but with a lower overall level of volatility.

"We are delighted to have the opportunity to bring to our Asian clients the benefits of our 22 years of experience in seeking to provide quality, risk-adjusted returns over the long-term and help our investors achieve their goals amidst ever-changing market conditions," commented Rupert Allan, Tremont's worldwide President.

"The launch of the Hong Kong office strengthens our position as a global investment manager of fund of hedge fund products and serves as the cornerstone of our growth throughout the region serving our clients and investors," he added.

Cynthia Nicoll, the Tremont organization's Chief Investment Officer observed: "Hedge funds increasingly represent a global investment opportunity. There's growing interest in our products throughout the Asian market and we're particularly excited about growing our capabilities and serving clients in the region from our base in Hong Kong."

Lavin Mok, who will head up Tremont's Hong Kong office, noted: "We see significant opportunities in the regional marketplace and are looking to grow our Asian clientele in both size and depth. The new office will serve the fund of hedge funds needs of our Asia-based clients, providing the full benefits of Tremont's recognized leadership in the industry."

Tremont's new Hong Kong base has also been welcomed by the government as it seeks to establish the jurisdiction as the premier fund management centre in in Asia.

"We are delighted to see another premier financial institution basing its regional operation in Hong Kong. It is clearly a vote of confidence to our strengths as an international financial centre," stated Mike Rowse, Director-General of Investment Promotion at Invest Hong Kong, the government's promotional arm.

"Hong Kong's close proximity to the rapidly-developing Mainland market and strategic location in Asia-Pacific - together with our sound legal system, cluster of financial professionals and years of track record in the industry - enhance our city's attraction to successful financial institutions like Tremont," he observed.

Founded in 1984, the Tremont organisation now has more than US$8 billion in assets under management.

A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp

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