Chinese fund manager targets Australian investors
Chinese equity and fixed income firm Fullgoal Fund Management has entered into a distribution agreement with 3PD to expand its reach in Australia and New Zealand.
The firm launched in 1999 and had decided to be represented by 3PD as they had previously worked with Robert Harrison, who founded 3PD with Steven Larkin, in the US.
3PD said it hoped Australian investors would consider the firm despite their preference for domestic vehicles as China would be among the long-term winners from the recent economic crash. Regarding the political tension between Australia and China, the firm said it should be considered as one of several factors for analysis when investing globally.
Harrison said: “Investors here, unlike their international counterparts, have been hesitant to invest in country specific strategies. This has been in part due a perceived lack of return for the added risk and the monitoring costs. As investors continue their quest for superior risk adjusted returns and competitive advantage, they cannot continue to leave this potential source off the table”.
Zhang Feng, chief investment officer at Fullgoal, added: “Most global managers rarely stray from benchmark included securities and US Managers are becoming more politically constrained. Without those constraints and comprehensive, fundamental coverage of small and mid-cap stocks, we easily differentiate and add value”.
Michael Chow, Fullgoal HK’s head of international business, said, “Fullgoal is one of the oldest, largest and most successful asset managers in China with an impeccable reputation and ownership. We are delighted to be able to bring our capabilities to Australian and New Zealand investors and we are very excited to be partnering with the experienced team at 3PD.
“Having worked with Rob when he was in the US and seen the success that Rob and Steve enjoyed together at their antecedent firms, I am confident we can provide both good investment outcomes and an outstanding level of client service to our Australian and New Zealand institutional clients.”
AUTHOR
Laura Dew
Recommended for you
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
Responsible investment performance concerns have lessened as the market hits $1.6 trillion in AUM, according to RIAA’s annual report, but greenwashing fears among asset managers are on the rise.
