A Singapore-based spokesman for the firm told our sister publication Fund Selector Asia that in launching its discretionary services in Asia, it sees particular opportunities in Hong Kong.
The Managed Account offers access to a range of risk-rated portfolios, designed specifically for international investors, expanding the range of investments available to SJP’s clients.
Key benefits of the Discretionary Managed Account include rigorous portfolio management for swift market movement reaction, an extensive global fund research process and currency flexibility, the firm said.
The firm hopes to launch discretionary accounts in other parts in Asia in the future, the spokesman said, but did not elaborate.
SJP does not have a target in terms of how much assets it wishes to raise from clients, the spokesman told FSA.
“Fundamentally, we want to offer continued good service to our target market, which is primarily affluent expatriates in Hong Kong,” the spokesman said. “We think of [the discretionary managed account] as something extra to our proposition.”
The firm believes the key benefits of a discretionary managed account are rigorous portfolio management, the ability to react swiftly to market movements, a global fund research process and currency flexibility, according to a statement.
“This development is part of our longer-term vision in Asia and reflects our commitment to continue to evolve our proposition to meet the needs of our clients in our target markets,” Mike Gravestock, the firm’s international partnership director, said in the statement.
The firm manages around £900m ($1.25bn, €1bn) in assets on behalf of Asia-based clients, the spokesman said. Globally, it manages £90.7bn in client funds, according to the statement.
