Prudence prepares to piggyback strong growth in Chinese credit markets
Wed Apr 18, 2012
Prudence Investment Management stuck its neck out when Chinese credit was in the doldrums. Now it is uniquely placed to benefit from growth
In a region dominated by equity long/short funds, Hong
Kong-based Prudence Investment Management stands out for its
focus on the rapidly growing Chinese credit market. The firm
manages $400 million and has a staff of 20, spread across
offices in Hong Kong, Shenzhen, Beijing and Shanghai.
The firm invests exclusively in offshore bonds issued by
Chinese companies, or companies that derive the majority of
their business from China. Chad Liu, a former trader at
Deutsche Bank's Saba group, saw an opportunity in the nascent
credit market when he founded the firm in 2008 along with
former Deutsche Bank private banker Wang Yuan and Dr Philip Wu,
the former chief executive of Wing Lung Bank. At present,
Prudence runs two funds: the flagship Prudence Enhanced Income
Fund, as well as the long-only Prudence RMB Income Fund.
The promise of the nascent credit market is what drew Liu
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