US Investment Managers Impressed by HK's Potential

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Last updated at: (Beijing Time) Friday, December 13, 2002

US Investment Managers Impressed by HK's Potential

US financial enterprises that manage billions of US dollars in public and private funds and endowments are eyeing Hong Kong as a base for diversifying their investment activity.

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US financial enterprises that manage billions of US dollars in public and private funds and endowments are eyeing Hong Kong as a base for diversifying their investment activity.

Such managers of the enterprises are here on a five-day exploratory mission from December 8-12 to the Hong Kong Special Administrative Region (HKSAR) and the Pearl River Delta, where they have been exploring private equity investment opportunities.

Top executives of the New York State Comptroller's Office, Hamilton Lane, Vinson and Elkins, Runnymede Capital Management Inc., Crown Advisors, Barrow Street Advisors, Russell and Co. and Wynnchurch Capital Ltd. joined the delegation organized by the Trade Development Council's New York office.

Speaking at the end of their visit, delegates said they are favorably impressed with the potential for profitable investments in Hong Kong and the Pearl River Delta, especially with China's market-opening commitments as a member of the World Trade Organization.

Some also indicated that they are planning to open a regional headquarters here to take advantage of Hong Kong's strategic location and strong financial infrastructure.

Among them is Chief Executive Officer of Barrow Street AdvisorsMichael Nocera.

"Hong Kong has everything to serve our business needs. It is anopen society that offers excellent financial services. The business people and professionals here understand sophisticated Western financial techniques well.

"At the same time, they have exhaustive experience in co-operating with the enterprises in the mainland," said Nocera.

Nocera said his company will focus on providing expert financial services to mainland entrepreneurs with fast-growing business.

Chairman of Crown Advisors David Bellet said Hong Kong would behis firm's preferred platform for growing their business in the region.

"Hong Kong and Pearl River Delta region offer one of the most attractive worldwide investment opportunities in the decade ahead," he said.

The delegation met with government leaders and top executives of regulatory authorities, listed companies and fund management houses.

They had appointments with the Financial Secretary Antony Leung,Chairman of Securities and Futures Commission (SFC) Andrew Sheng, Deputy Chief Executive of Hong Kong Monetary Authority David Carseand Chief Operating Officer of Hong Kong Stock Exchange Frederick Grede.

The Founder and Chairman of Hamilton Lane, Les Brun, said the mission has provided valuable access to a wide range of leaders from the finance sector and other industries.

"It has made very clear to me that Hong Kong is the epicenter of trade and knowledge for those of us interested in the China market, as well as the rest of Asia," he said.

The group also visited Shenzhen Stock Exchange, as well as officials and key business organizations in Guangzhou.

The TDC organizes such delegations as part of its mission to promote exports of HKSAR's financial services and to attract more international players to Hong Kong's business platform.

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