Value Partners has established a new office in Malaysia which will serve as its investment as well as product development and distribution hub for Southeast Asia.
The group’s subsidiary – Value Partners Asset Management Malaysia – has received approval from the Securities Commission Malaysia for a Capital Market Services license for fund management.
Au King Lun, the company’s chief executive officer, told Citywire Asia the new office is scheduled to officially open next month and will be distributing products to sophisticated investors, among others.
It will be led by the newly appointed managing director for Southeast Asia, Michael Greenall, who plans to hire five employees in Malaysia by end of 2018, and double the headcount by the end of 2019.
Following the opening, Value Partners will launch new Southeast Asia-focused exchange traded funds and Shariah-compliant funds for global clients out of the new office.
Au said Malaysia is the perfect Southeast Asian base given its excellent connectivity, rich diversity and cost competitiveness.
Value Partners, which is headquartered in Hong Kong, also has offices in Shanghai, Shenzhen, Singapore and London. As of end-August, the firm had asset under management of $16.6 billion.