Launches & Closures

ICBC Credit Suisse group launches two offshore China funds in 2012

by

Hao Kang
The fully owned subsidiary of a joint venture between the Industrial and Commercial Bank of China (ICBC) and Credit Suisse is planning to launch two long-only funds focused on China-related companies in Hong Kong next year.

The Hong Kong Securities and Futures Commission recently granted a Type 9 licence to ICBC Credit Suisse Asset Management (International) Company to manage and market hedge funds in Hong Kong.

The licence came just after ICBC, which is the world’s biggest lender by market value, increased its shareholding in the joint venture established in 2005 to 80%