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Luxembourg private and investment bank starts asset management business in Hong Kong (with photo)

     Banque Degroof Luxembourg SA (BDL) announced today (May 19) that its subsidiary Degroof Asset Management (HK) Limited has recently been approved by the Securities and Futures Commission to provide asset management services for investment funds.

     The Hong Kong company will capitalise on the expertise developed in Luxembourg over the past 10 years within its Alternative Investment Fund Managers Directive/Undertakings for Collective Investment in Transferable Securities management company, Degroof Gestion Institutionnelle-Luxembourg, in terms of asset management, risk management, investment compliance monitoring and distribution oversight.

     The Managing Director of BDL, Mr Geert De Bruyne, said, "The asset management subsidiary will reinforce our commitment toward Hong Kong and the Asian region, as part of the strategic expansion of our representative office in Hong Kong. The representative office has already allowed us to develop closer ties with industry practitioners in Asia."

     The Chairman of Degroof Asset Management (HK) Limited, Mr Jean-Luc Neyens, said, "In today's challenging regulatory environment, having proper operational and fund-governance support in place allows fund managers to focus on their investment strategies, and also gives immense comfort to investors."

     Heading Degroof Asset Management (HK) Limited is Chief Executive Officer Mr Michael Stockford, who brings over 30 years of experience in the banking and asset management industry, of which more than 20 years has been in Hong Kong.

     Associate Director-General of Investment Promotion Mr Charles Ng welcomed the expansion of BDL in Hong Kong and said, "Considering the growing number of high-net-worth individuals in and around Hong Kong, there is substantial demand for quality asset management. Global players like BDL will offer fund managers expertise and advice in terms of investing for their clients. I wish Degroof Asset Management every success for their business development in Hong Kong."

About Banque Degroof Luxembourg

     Banque Degroof Luxembourg SA (BDL) is wholly owned by Banque Degroof SA, one of the oldest banks in Belgium. Established in 1871, Banque Degroof SA's business activities include private banking and wealth management, asset management and investment banking. BDL has been providing fund administration services for Luxembourg- and Belgium-domiciled investment funds since the mid-1980s. As of March 2015, assets under administration or custody reached US$31 billion (HK$240 billion). For more information, please visit

About Invest Hong Kong

     Invest Hong Kong (InvestHK) is the department of the Hong Kong Special Administrative Region Government established in July 2000 to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As of December 2014, InvestHK had completed over 3,440 investment projects creating more than 37,500 new jobs in the first year of operation or expansion and over HK$91 billion of investment. For more information, please visit

     For event photos, please visit

Ends/Tuesday, May 19, 2015
Issued at HKT 11:00


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