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Tremont Group Holdings, Inc., a leading investment manager of fund of hedge fund products and multi-manager portfolios, today (December 4) announced the roll out of its operations in Hong Kong. Tremont Capital Management (Asia) Limited is Tremont's first office in Asia and also the company's regional headquarters. Tremont's Hong Kong office intends to deliver fund of hedge fund products and portfolio solutions to an expanding base of local and regional private banks, institutional clients and qualified high net worth investors. Tremont Capital Management (Asia) recently obtained from the Hong Kong Securities and Futures Commission a license to conduct its operations.
"We are delighted to have the opportunity to bring to our Asian clients the benefits of our 22 years of experience in seeking to provide quality, risk-adjusted returns over the long-term and help our investors achieve their goals amidst ever-changing market conditions," said Mr Rupert Allan, Tremont's worldwide President. "The launch of the Hong Kong office strengthens our position as a global investment manager of fund of hedge fund products and serves as the cornerstone of our growth throughout the region serving our clients and investors."
Ms Cynthia Nicoll, the Tremont organization's Chief Investment Officer, added, "Hedge funds increasingly represent a global investment opportunity. There's growing interest in our products throughout the Asian market and we're particularly excited about growing our capabilities and serving clients in the region from our base in Hong Kong."
Tremont's Hong Kong office will be led by Mr Lavin Mok, Managing Director, who has over ten years' experience in the funds industry. With the sales operation already in place, Mr Mok will manage that operation and help develop a local research team in connection with the products and portfolio management services of its overseas affiliates, which will seek to facilitate access to the leading hedge fund managers in the region.
The Hong Kong office will work in concert with Tremont's headquarters in Rye, New York which, together with its other regional subsidiaries in London and Toronto, will provide a global perspective for its Asian clients. The Tremont organization currently has over US$8 billion in assets under management. In general, funds of hedge funds invest in a number of individual hedge funds and seek to create a diversified portfolio of funds which will deliver similar return characteristics, but with a lower overall level of volatility.
Mr Mok said, "We see significant opportunities in the regional marketplace and are looking to grow our Asian clientele in both size and depth. The new office will serve the fund of hedge funds needs of our Asia-based clients, providing the full benefits of Tremont's recognised leadership in the industry."
The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, congratulated Tremont Capital Management on its new venture in Hong Kong. He remarked, "We are delighted to see another premier financial institution basing its regional operation in Hong Kong. It is clearly a vote of confidence to our strengths as an international financial centre," Mr Rowse continued, "Hong Kong's close proximity to the rapidly-developing Mainland market and strategic location in Asia-Pacific - together with our sound legal system, cluster of financial professionals and years of track record in the industry - enhance our city's attraction to successful financial institutions like Tremont. We wish your company all the best and look forward to supporting your expansion as you develop your business here and in this region."
Tremont Capital Management (Asia) Limited is a wholly-owned subsidiary of Tremont Group Holdings, Inc. and serves as the organization's regional headquarters in Hong Kong. Tremont Group Holdings, Inc. was formed in 1984 and is based in Rye, New York. Through its Tremont Capital Management unit, it is recognized worldwide as an established leader in the investment management of fund of hedge fund investment products and multi-manager portfolios. Tremont also has offices in London and Toronto and Hong Kong. Tremont operating subsidiaries are regulated around the world by the U.S.' Securities and Exchange Commission and National Association of Securities Dealers, the U.K.'s Financial Services Authority, the Ontario Securities Commission and the Hong Kong Securities and Futures Commission. Tremont is an affiliate of OppenheimerFunds, one of the largest and most respected asset management companies in the United States.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing the support needed to establish or expand a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Monday, December 4, 2006
Issued at HKT 17:39
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