PRLog - May 26, 2014 - MELBOURNE, Australia -- Australian based credit specialist Fund Manager La Trobe Financial has expanded its China business by setting up formal registration in the Shanghai Free Trade Zone (FT Zone). This FT Zone will enable La Trobe Financial to grow its current local operations further following China’s commencement of financial market liberalisation.
As one of only a hand full of financial institutions setting up in the FT Zone, La Trobe Financial is well positioned to participate in China’s proposed financial market deregulation, and the opportunities this presents for trade and investment flows between China and Australia and potentially the rest of the Asian region.
Under the FT Zone’s current regulatory framework, La Trobe Financial will conduct a range of investment and asset management services.
The FT Zone is designed to be an engine to accelerate China’s and Shanghai city’s construction of “six fields of industry” as described in the FT Zone framework – which include financial services, shipping, business and trade, professional services, and cultural and social services. The signing ceremony to establish La Trobe Financial’s FT Zone company was attended by La Trobe Financial’s President & CEO, Greg O’Neill in Shanghai last week and Shanghai office staff.
Mr O’Neill commented that, “Asia’s development and population base means it is now well on track to be a significant global player in financial markets. Looking towards 2020 we believe that Shanghai will ultimately become a global financial centre following this FT Zone initiative and the Chinese government’s approach to more open capital markets is to be applauded.”
“Regional financial integration is very important for Asia-Pacific financial markets in order to achieve greater economies of scale, depth in liquidity and ultimately better support the region’s economic development plans by improving access to finance in each economy. Developments such as the FT Zone, and the proposed ‘ASIAN regional Funds Passport’, maintain a better legal and regulatory framework which promote investor protections and efficient and transparent markets. This in turn promotes economic and regional stability,” said O’Neill.
The FT Zone was established on 29 September 2013. Around 100 companies have been registered in the zone each day over the past few months. The FT Zone module is also expected to be replicated in other parts of China.
La Trobe Financial understands how important the Asian region market is to Australia’s financial future and more particular how important China is. In 2008 La Trobe Financial made a significant commitment to grow its operations internationally with a particular focus on China and opened its first office in Shanghai with a dedicated international team who speak fluent Mandarin and Cantonese.
Recently, the International Alternative Investment Review (IAIR) Global Awards were held in Hong Kong, recognising some of the world’s best in wealth management, brokerage and asset management. For the second consecutive time, La Trobe Financial won the Award for Excellence in Mortgage Fund Management – Australia (2013 and 2014). It has also won Excellence and Innovation in Australian Management – Independent Australia (2013).
La Trobe Financial’s Chief Wealth Management Officer, Randal Williams stated, “such Awards highlight the innovative approach and features offered by La Trobe Financial to investors and that is exactly what we continue to do in the FT Zone.”
La Trobe Financial will be making further announcements shortly.
Visit http://www.latrobefinancial.com.au for more information.
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Fund Manager La Trobe Financial expands its operations in the Shanghai Free Trade Zone
May 26, 2014 at 21:11 PM EDT
