Firm Description
Invesco Hong Kong Limited (“IHKL”) was founded in 1972.
IHKL is an indirect, wholly owned subsidiary of Invesco Ltd., with regional presence
covering investment capabilities in domestic and specialist Asian products,
available to local investors as well as investors worldwide.
IHKL is an investment adviser, which offers funds encompassing equity, bond,
balanced and money market vehicles, to retail investors. The funds are distributed
through most of the major financial institutions, including retail and private banks,
and insurance companies. The role of IHKL is to make investment decisions,
execute trades and provide portfolio securities administration for the funds it
manages.
Apart from the retail business, IHKL manages assets for institutions ranging from
public funds and pension funds to institutional working capital, according to the
mandates’ investment objectives and guidelines.
Invesco Taiwan Limited became a wholly-owned subsidiary of IHKL on May 31,
2012.
In September 2012, IHKL entered into an agreement to acquire a 49 percent
interest in Religare Asset Management Company Private Limited (RAMC) in India.
The acquisition was formally completed on April 2, 2013. RAMC has been
renamed as Religare Invesco Asset Management Company Private Limited
(“RIAMC”).
On November 18, 2015, Invesco Ltd. and Religare Enterprises Limited jointly
announced that they have entered into a definitive agreement to increase IHKL’s
shareholding in RIAMC to 100%. The aforementioned transaction has been
approved by the Securities and Exchange Board of India on February 18, 2016.
On April 8, 2016, Invesco Ltd. announced that it has completed the acquisition of
RIAMC, by increasing its shareholding from 49 percent to 100 percent. With
customary Indian regulatory approvals, RIAMC was renamed as Invesco Asset
Management (India) Private Limited with effect from May 3, 2016. The
management team, investment management team and investment process of
Invesco Asset Management (India) Private Limited will remain unchanged.
Invesco Investment Management (Shanghai) Limited was incorporated in
Shanghai and became a wholly-owned subsidiary of IHKL on April 13, 2017. In
November 2017, Invesco Investment Management (Shanghai) Limited registered
as a private securities fund manager with the Asset Management Association of
China (AMAC).
On September 28, 2022, Invesco Asset Management Asia Limited was granted
the request to cancel its ‘Type 1: Dealing in Securities’ license with the Hong Kong
Securities and Futures Commission as the Company was no longer conducting
any regulated activities.
On [] 2024,
Principal Owners
IHKL is wholly-owned by Invesco Asset Management Pacific Limited which is
wholly-owned by Invesco Pacific Group Limited. Invesco Pacific Group Limited is
wholly-owned by Invesco Holding Company Limited whose parent (100% owned)
is Invesco Ltd, which is publicly traded on the New York Stock Exchange under
the symbol IVZ.
Types
of Advisory Services
IHKL provides investment supervisory services, also known as asset management
services; manages investment accounts and provide investment advice for the
advisory accounts; issues periodic materials about the fund performance as well
as market views.
As of 31 December 2023, IHKL manages approximately US$ 25,979 million in
assets for its discretionary and advisory accounts.
Tailored Relationships
The goals and objectives for each client are documented in investment
management agreements/ advisory agreements. Clients may impose restrictions
on investing in certain securities or types of securities.
Types of Agreements
The following agreements define the typical client relationships.
Investment Management Agreement
Most clients choose to have IHKL manage their assets through an Investment
Management Agreement. These include full discretionary, Asian Investment
portfolio services to clients based in the United States of America or other regions.
Portfolio management services commonly relate to country specific or regional
portfolios.
These services will be furnished against the payment of a fee which is based on
the value of asset under management and complexity of the mandate, and it is
subject to negotiation.
The scope of work and fee for an Investment Management agreement is agreed
with the client in writing prior to the start of the relationship.
Asset Management
This represents the management of mutual funds which are distributed outside the
U.S., usually distributed through major financial institutions, including retail and
private banks, insurance companies or financial consultants.
These services will be furnished against the payment of a fee which is based on
the value of asset under management (management fees). As an indication, the
retail fund products currently charge up to 2% management fees depending on
different type of products. The initial charge is usually up to 5.25 % depending on
the distributors. All the fees and charges are stated in the relevant prospectuses.
Investments mainly include equities (stocks), debt, cash and cash equivalents and
financial derivative instruments.
Advisory Service Agreement
Some of the IHKL’s clients would like to obtain IHKL’s advice on IHKL’s expertise
of managing a portfolio of Asian securities and enter an advisory agreement with
IHKL.
The scope of work and fee for an Advisory Service Agreement is agreed with the
client in writing prior to the start of the relationship.
These services will be furnished against the payment of a fee which is based on
the value of asset under management and complexity of the mandate, and it is
subject to negotiation.
IHKL will also provide sub-advisory services to affiliated entities under the common
ownership of Invesco Ltd.
Termination of Agreement
Investment advisory services generally may be terminated by either party upon
prior written notice. Upon termination, any unearned fee will be refunded to the
client in accordance with the terms of the agreement with the client.