Asia: BEA Union Investment Management to launch its products in Switzerland

In December 2016, Hong Kong and Switzerland reached an agreement to allow public funds from both countries to be distributed interchangeably through a simpler approval process. As a subsidiary of Bank of East Asia Ltd which is the third largest bank in Hong Kong, BEA Union Investment Management will be one of the first Hong Kong based fund houses to be approved to sell its products in Switzerland.

The two products that are to be sold in Switzerland are the BEA Union Investment Asian Bond, with assets under management of $380 million and Currency Bond and Asia Pacific Multi-Income Fund that worth $500 million. This agreement will help to Hong Kong fund managers to widen their customer base and also allow Swiss investors access to Hong Kong products.

According to RFi Group data, in 2017, 9% of people which holds banking/investment products outside of Hong Kong have banking/investment products in Europe. With this alliance, this number is very likely to rise.

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