BlackRock building local fund ops in HK
The US manager is readying a platform for Hong Kong-domiciled funds, say sources. This follows Franklin Templeton's launch of a range of local products, and other firms are said to be eyeing similar moves.
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BlackRock, the world’s biggest asset manager, plans to launch a platform of Hong Kong-domiciled funds early next year. The move reflects a rising trend, with Franklin Templeton having launched a QFII product, the first in a new range of local funds this week.
And it is said that at least one other big fund house is planning a similar move, but AsianInvestor could not ascertain the identity of the firm by press time.
BlackRock has been working on the set-up for over a year by ex…
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