Success Finance Group will Launch the First jointly-managed Equity Fund with Russian Bank Raiffeisen Capital
2016-01-18

The recent volatility in China and Hong Kong capital markets are undergoing capital flight. China's One Belt One Road (OBOR) initiative is the new economic paradigm, which Russia is one of the major players in this new Silk Road Economic Belt. Success Finance Group (SFG) management has met with the Deputy Prime Minister of the Russian Federation Mr. Arkady Dvorkovich during his visit to Asian Financial Forum in Hong Kong today (18 January), and is pleased to announce the collaboration with one of the top Russian banks to set up the first jointly-managed Russian equity fund in Hong Kong by the first quarter of 2016. 

 

Success Asset Management Limited, a member of SFG, announced the signing of a corporation agreement with Raiffeisen Capital and the Russian's official channel International Bridges for Cooperation, Development and Investment (ICDI). Together, the first jointly-managed investment fund "RC Success Alpha Fund" will be established in Hong Kong with Success Asset Management as the Investment Manager and Raiffeisen Capital as the Investment Advisor. This private offshore investment fund will target professional investors only and a capacity of approximately US$200 million under management. SFG Chief Executive Officer Mr. Tom Chan said "SFG has been closely monitoring the global market trend. The introduction of Hong Kong and Russian joint-management fund is another foresighted product by SFG to provide an alternative potential investment opportunity to meet the ever-changing market dynamics and investors' appetite".

 

Executive Director and Chief Investment Officer of Success Asset Management Mr. Ben Lai added "With the weak economic growth around the globe, and the unprecedented challenges faced by the Chinese central and local governments, value investors are much more eager to seek alternative investment products or channels. Having experienced years' of ups and downs, the Russian government has been actively diversifying its heavy reliance on Oil and Gas economic structure to encourage and develop non-energy industries such as technologies and manufacturing. With a relative high level of gold and foreign exchange reserve, and the Russian ruble experiencing its historical trough, we believe that the Russian economy will gradually recover and resume growth soon".
Deputy Prime Minister of the Russian Federation Mr Arkady Dvorkovich (3rd left) met the Executive Director and Chief Investment Officer of Success Asset Management Mr. Ben Lai (2nd left) at Asian Financial Forum.
SFG Chief Executive Officer Mr. Tom Chan (right) explores fund development opportunities with representative of ICDI.
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