Shenzhen-based sunshine fund manager Infore Capital, which
currently manages CNY5 billion ($813 million) in assets, has
gained an asset management license in Hong Kong that will allow
it to launch offshore versions of its long/short products. The
group received its licence from the Hong Kong regulator in
Infore Capital was the result of the merger of two sunshine
funds – the listed equity-focused Shenzhen Cowin
Investment group and private equity fund manager Infore Capital
– into a combined and expanded asset management
company in 2012.
Following the merger, the group is now one of the more
significant sunshine funds from Shenzhen and manages close to
CNY5 billion in assets that are invested either in listed stock
or through stakes in private companies.
The firm is understood to be looking to launch an offshore
long/short equity fund that will target Chinese and US stocks.
The portfolio will be managed by Zhu Ming, the
firm’s CIO for its overseas division.
Zhu has been with Infore Capital since 2009. He was at
Shenzhen Cowin Investment before it was merged with Infore
Capital in 2012. He has been managing several investment funds
at Infore with an aggregate $100 million in assets.
The funds invest in securities and futures and uses
long/short hedging strategies to generate consistent absolute
returns. Zhu previously worked at Shenzhen Everyoung Capital as
a fund manager, where he was also the head of research for more
than two years.