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China $214 Billion Fund Manager Looks to Boost Overseas Inflows

With assistance by Charlie Zhu, Evelyn Yu, Mengchen Lu, and Dingmin Zhang   One of China’s largest asset managers is targeting to almost double the foreign cash it oversees as the nation’s economic rise and financial opening increase demand.   China Asset Management Co. will seek to grow such assets to at least $10 billion over the next few years, up from about $6 billion, Richard Pan, head of Global Capital Investment at the Beijing-based firm, said in an interview. Its assets under the Qualified Foreign Institutional Investor plan -- a program that allows foreigners to invest in China -- have...
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Ping An Overseas Holdings Raised Funds of USD875 Million for Overseas Private Equity Investing

By Ping An Insurance   The two funds combined received a total capital commitment of USD875 million from a group of global investors, anchored by GIC and Switzerland-based Montana Capital Partners. Ping An Overseas Holdings is also a Limited Partner in the Funds alongside other investors.   The Funds represent Ping An Overseas Holdings' first dedicated investment program focusing on overseas private equity investing. The Selection Fund operates a fund of funds program that was invested by Ping An into a well-diversified portfolio of top-tier buyout managers in North America and Europe and was transferred as part of a secondary transaction. The Global Equity Fund is set up to capture...
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Singapore: Re-domiciliation Of Investment Funds To Singapore

By The Sovereign Group   We recently highlighted the launch in Singapore this year of the Variable Capital Companies (VCC) framework, a new corporate structure that can be used for a wide range of investment funds.   The VCC is designed to offer more flexibility to investment funds in Singapore by providing an umbrella-sub-fund structure and less rigid capital maintenance requirements. The VCC is therefore similar to the 'protected cell' and 'segregated portfolio' structures in offshore jurisdictions such as the Cayman Islands, the British Virgin Islands, and Guernsey.   Singapore fund managers will be able to constitute investment funds as VCCs...
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European Parliament’s New Subcommittee Sets Sight on EU’s Tax Havens

By Martin Banks   Tax dodging costing EU Member States €1trillion a year in lost revenue, say MEPs.   The European Parliament now has a “proper body to tackle Europe’s massive tax avoidance and evasion”.   That was the message from Greens/EFA group MEP Kira Marie Peter-Hansen, who also told this site that “The creation of the new tax subcommittee is a long-standing demand from the Greens/EFA group, and I would like to thank everyone who has pushed for it. I am both thrilled and honored to be appointed as vice-chair of the subcommittee."   She added that the subcommittee’s creation...
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EU Adds Barbados, Anguilla to Tax Haven List, Removes Cayman Islands, Oman

By Reuters Staff   BRUSSELS (Reuters) - European Union finance ministers added Anguilla and Barbados to the EU’s blacklist of tax havens on Tuesday and removed the Cayman Islands and Oman after they passed the necessary reforms.   The EU list, set up in 2017 after revelations of widespread tax evasion and avoidance schemes, now includes 12 jurisdictions: American Samoa, Anguilla, Barbados, Fiji, Guam, Palau, Panama, Samoa, Seychelles, Trinidad and Tobago, the U.S. Virgin Islands and Vanuatu.     Those on the blacklist face reputational damages, higher scrutiny in their financial transactions, and risk losing EU funds.   Source: Reuters

Interview - Curacao Company Formation

1. What is the single most important advantage your jurisdiction provides for Chinese clients? Curaçao is part of the Kingdom of the Netherlands, so it is a very transparent jurisdiction with a modern tax code that is similar to the Dutch tax code. Curaçao is not only a logistical gateway to Latin America with its natural harbor – with one of the largest container terminals in the Caribbean, a refinery and a large modern shipyard – but it can be considered a financial gateway to Latin America too. Curaçaohas an excellent financial sector, extremely favorable tax trading regimes, and modern holding...
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Overseas Fund Strategies: Investing in Periods of Uncertainty

Lately, an increasing amount of investors have asked us what will happen in the US real estate market.  “Is the real estate market going to hold up?” “What’s going to happen with the 2020 election?” “Do you think the Fed will continue hiking rates?” “Are markets going to adjust?” All good questions.  We usually throw it right back and ask, “What do you think?  Let’s walk through the scenarios together.” The investors usually reference data points they gathered and talk about the long bull cycle, the dynamics in the US government, recent stock market volatiliy, but struggle to come up...
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Analyzing the Classic Model Adopted by Mainland Private Equity Managers for Setting up US Dollar Funds via Hong Kong

Introduction Whether it is for the purposes of resisting the pressure of inflation, choosing a more sound investment channel with lower costs, or seeking funds with a higher rate of return and greater potential, private equity managers in mainland China are now confronted with urgent but hard-to-satisfy demand for “going abroad plans” to provide enterprises and high-net-worth clients with global wealth configuration schemes. Plans for “going abroad” developed by private equity managers may be based on overseas financial products like Shanghai-Hong Kong Stock Connect, Shenzhen-Hong Kong Stock Connect and Qualified Domestic Institutional Investor (QDII). Due to the shortage of channels,...