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E Fund to launch two global emerging market funds in 2011

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E Fund Management (HK), the Hong Kong arm of China’s second largest asset manager with USD29billion in AUM, plans to launch two new funds in 2011 according to CEO Cha

E Fund Management (HK), the Hong Kong arm of China’s second largest asset manager with USD29billion in AUM, plans to launch two new funds in 2011 according to CEO Charles Wang, Reuters reported this week. The firm hopes to raise USD500million for the investment vehicles, both of which will focus on global emerging markets. One, a long-only fund, is due to launch this month. The second, an equity l/s fund, is due to launch in the second half of the year. It is believed they will have a combined AUM capacity of USD6.5billion. Wang said that global investors are aware of their under-allocation to emerging markets despite it being an attractive asset class. Hence the decision to launch the new funds. “This asset class will be much in demand in the next three, five, 10 years,” Wang was quoted as saying. The long-only fund – Global Emerging Markets “China Enhanced” fund – is due to launch end-April with a capacity of up to USD5billion and will target annualised returns of 4 per cent to 6 per cent. The Global Emerging Markets Opportunistic Long-Short fund will target returns of 15 per cent and will have an AUM capacity of up to USD1.5billion. With China boasting the world’s second highest number of billionaires, the growth possibilities for China’s alternatives industry are enormous.

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