East Capital to repackage China funds for SICAV range
Asset management firm halts trading on two portfolios in order to change legal structure and make them more attractive to investors.
by Chris Sloley on Feb 06, 2012 at 12:34
Asset management firm East Capital has suspended trading on two China funds in order to change the legal structure of the portfolios and add them to its SICAV range.
The East Capital China East Asia Fund and the East Capital China Fund are closed between February 3 and February 10 in order for the legal change to take place. The funds will reopen on February 13.
The two funds will be renamed the East Capital (Lux) – China East Asia Fund and the East Capital (Lux) - China Fund.
The two newly-created sub-funds, referred to in legal documentation as ‘receiving funds’, will be added to East Capital’s SICAV range.
In a note sent to investors, East Capital said management of the portfolios will remain the same, as will the investment approach.
Explaining the rationale for the change, East Capital said: ‘An investment company with variable capital is considered a more attractive fund structure for many investors, and this increased marketability will in turn enhance the sub funds’, respectively the [two] receiving funds’, prospects of gathering additional assets and so improve the efficiency of the portfolio.’
Today's top headlines
- RAM eyes new launch as star manager's fund nears hard closure
- Rates rise would derail US housing recovery, says PIMCO star
- Citywire Ratings: uncovering Asia’s newly-rated elite
- Swiss & Global bond star: what lies behind the EMD sell off
- Franklin Templeton takes full control of US alternatives boutique
More about this:
Look up the funds
More from us
- East Capital launches Baltic property fund
- Eastern Europe expert says smaller nations can stand out
- Chinese banks are not in danger, says East Capital co-founder
- China slowdown bodes well for business says East Capital manager
- Eastern Europe ‘held hostage’ by global turmoil, says regional expert
by Chris Sloley on Jun 19, 2013 at 13:12