China's Springs To Open Research, Trading Office In Hong Kong

Jul 25 2011 | 2:04pm ET

Western hedge funds aren't the only ones racing to set up shop in Hong Kong.

China's own Springs Capital is poised to open trading desks in the special administrative region and hopes to hire two analysts to cover Hong Kong-listed Chinese companies, Reuters reports. The move comes as Beijing-based Springs, which has about US$700 million in assets under management, hopes to attract more offshore investors, managing director Jenny Tian said.

Tian said that Springs' US$69 million China-focused offshore long/short fund has grown by 15% this year and that the firm hopes to increase its assets to US$100 million over the next year.

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