Brown Brothers Harriman (BBH) has been appointed as fund administrator for Hong Kong-based GaoTeng Global Asset Management following the launch of its first UCITS fund.
Authorised by the Central Bank of Ireland, the GaoTeng Penguin Asian High Yield Fund aims to maximise total return from a combination of income and capital gain through investing in Asia’s high-yielding sovereign, quasi-sovereign, bank and corporate debt markets.
While BBH has taken the role as fund administrator, GaoTeng appointed Lemanik as its UCITS management Company, and Walkers as legal counsel.
Wayne BI, CEO of GaoTeng, said: “Launching UCITS fund is consistent with our global business and product strategies, as we’ve seen increasing interests by domestic and international investors in the Asian HY strategy.”
BI noted that UCITS funds have a well-established infrastructure and regulatory environment with high international recognition by institutional and retail investors worldwide.
“We hope to consistently expand our product line and deliver top-notch products and services to investors around the world. The launch of our fund has been efficient and successful. The process was fluid and well managed with regular calls between the lawyers, Lemanik and us. I would like to thank again our business partner for all their incredible support,” BI cited.
Desmond How, head of fixed income at GaoTeng who manages the fund, commented: “Global markets have weathered unprecedented turmoil due to the spread of COVID-19 during the past two months. Meanwhile, we would like to seize the resultant investment opportunities in the region.”
