Permal begins active marketing in Hong Kong

The fund-of-hedge-funds giant can now approach the retail market directly.
April 09, 2006
The Permal Group, the $20 billion manager of funds of hedge funds, has recently been granted a license by the Hong Kong Securities and Futures Commission to deal in securities. It has appointed Brenda Tse, who joined the firm last year, as its responsible officer and representative in the Hong Kong office.

Permal already has three products registered in Hong Kong, and can now market these directly to commercial banks.

These include low-volatility funds of funds for equity longshort, multi-strategy and natural-resources funds. ôOur natural resources fund of funds has outperformed the natural resources indices but with lower volatility,ö Tse notes.

Citibank has sold these Permal products in Hong Kong since 2003, but Permal...
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