A Swiss hedge fund boutique plans to set up shop in Hong Kong with a prominent Asia banker. What is behind the move?
Ayaltis, a Swiss fund-of-hedge fund boutique, is dispatching one of its senior analysts to Hong Kong to open a family office, according to fund portal «Citywire».
The move aims to cash in on hot demand from Chinese families for unbiased advice, as well as to build on the large proportion of assets from Hong Kong that Ayaltis already manages.
Hao Shao, who has spent the last six years in Zurich, will start with a team of three and plans to hire five more people in Hong Kong, as well as eight more in mainland China.
China Hedge Funds
Shao told «Citywire» the new firm will focus on hedge fund investments in Asia and China in particular. The move marks an notable expansion step for Ayaltis, which was founded at the peak of the financial crisis ten years ago
Ayaltis was financially backed by the family office of entrepreneur, art collector and former Swiss ambassador to China Uli Sigg.
Early Stages
Shao said that he hopes to lure Chinese quant analysts currently with U.S. firms, hoping to return to Asia.
«They cannot implement everything they learned in the U.S., the market is still in a early stage but given the fact that it is the second largest economy and stock market, there are ample opportunities and extremely attractive returns for a skilled investor,» he told «Citywire».
Sigg's nephew, Manuel Salvisberg, oversees Ayaltis.
