Four Hong Kong-based asset management firms have signed up as members of ICI Global, a trade organisation focused on regulatory and market issues for global investment funds and investors.
The firms that have joined are CSOP Asset Management, Fullgoal Asset Management, Haitong Asset Management, and E Fund Management. They bring ICI Global’s tally of Chinese managers up to seven firms.
The organisation sees its job as fourfold: supporting the role that funds and fund managers play in financial stability; lobbying on key regulatory developments; monitoring global trading and market structure policy developments; and developing the role of funds in retirement savings and pension systems.
ICI Global opened its Hong Kong office at the beginning of May 2013. It is run by Qiumei Yang, executive vice president and head of Asia Pacific. She previously worked at the Hong Kong Stock Exchange, where she served as head of mainland development. She also spent a decade at the China Securities Regulatory Commission (CSRC).
ICI Global was founded in London at the end of 2011. Its initials derive from ‘Investment Company Institute’ the national association of investment companies in the USA. The current membership roster stands in the mid-thirties. Its London-based managing director is Dan Waters, who previously led the asset management sector at the UK’s Financial Services Authority.