News round-up: Value Partners unveils growth plans following profit rise; Agio launches AI platform; Apex snaps up Swiss representation firm

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Value Partners unveils growth plans following profit rise

Hong Kong’s Value Partners Group reported a 67.2% increase in net profit for the first half of the year compared to Q1 2020, with revenue up more than 22% over the same period.

Value Partners attributed the strong results to its equities and thematic strategies which recorded ‘strong’ performance. The group said its flagship Greater China equity product delivered returns of 9.1% during the first six months this year, while its flagship Asia-focused high dividend equity product and a healthcare thematic product generated net returns of 9.6% and 9.1%, respectively.

Over the coming months, Value Partners said it would continue to capture opportunities in mainland China, including preparing for the launch of the Greater Bay Area Wealth Management Connect Scheme. The firm also said it would look to strengthen its distribution channels sales team, expanding coverage to multiple regions and client segments.

“On the geographical expansion front, we continued to receive strong inflows from the overseas markets. This year, our overseas AUM further grew from US$3.8 billion to US$4.2 billion, and increased its share of our AUM by 5%, accounting for almost one-third of our total AUM,” said Angel Teng, Value Partners’ Managing Director and Chief Strategy Officer.

“In Europe, riding on our successful GBP 500 million China mandate from M&G, which is one of the largest asset managers in Europe, we have received continuous interest from both institutional and high-net-worth channels in the region."

 “We have continued to strengthen our UCITS fund range, with our product suite now ranging from China and Asia equities to fixed income and thematic products. Our on-the-ground team in the UK is well-positioned to provide local service to investors in the region.”

Teng added that in North America, Value Partners received an ‘additional sizable investment’ from an institutional investor for an Asian fixed income mandate in the first quarter of the year.

Agio launches AI platform after Steve Cohen cash injection

Cybersecurity and managed IT firm, Agio, has launched a new AI-enabled platform following an investment from Point72 Hyperscale.

The new service, AgioNow, was built over 18-months and its algorithms use applied AI to help predict, find, and fix cyber and IT issues as quickly as possible. The buildout was enabled by an investment from Point 72’s Steve Cohen’s latest venture, which injects capital into private companies.

Founded by Bart McDonough in 2010, Agio offers IT and cybersecurity services to its clients, with around 300 employees in six global offices.

"Our vision is to provide secure, reliable, and resilient systems for our clients," said McDonough. "By combining predictive intelligence and human brilliance we have changed the game.

“We define an exceptional experience as one where clients have few issues impacting their ability to work and when they do, those impediments get solved very quickly. Ultimately that means less time with IT and more time working on their business.”

Apex snaps up Swiss representation firm

Apex Group has announced plans to acquire ARM Swiss Representatives SA (ASR) in a bid to further its expansion strategy for fund marketing and distribution services in Europe.

ASR, which provides Swiss representation and distribution services to foreign fund managers, works with around 630 funds and 350 fund managers internationally, seeking to market their funds in Switzerland.

Apex said the move would give its clients access to greater regulatory compliance and distribution services and assistance when accessing the Swiss market.

“The acquisition of ASR builds on our industry leading role as one of the first super ManCos to offer distribution services in Europe,” said Peter Hughes, Founder and CEO of Apex Group. “We look forward to welcoming the team whose extensive knowledge of the Swiss market and regulatory landscape offers a highly attractive and complementary addition to our offering and further strengthens our compelling client proposition.” 

Financial terms of the transaction were not disclosed. This transaction is subject to FINMA approval, expected in Q3 2021.

Stephanie Taylor

Head of Event Content, HFM

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