FundRock opens Singapore branch amid Asia expansion

Singapore_MerlionLuxembourg-based third-party management company FundRock has opened a new branch in Singapore as part of its expansion efforts in the region. Timothy Walkley has been appointed as the managing director for Asia markets. FundRock, previously known as RBS (Luxembourg) SA, was established in 2004. After the business was sold to private equity firm, BlackFin Capital Partners, in 2015, it was renamed FundRock. Walkley has more than 20 years of experience in the Asian markets and “has been actively involved in China-focused investment activities since 1999 covering both private and public equities. Most recently, he launched a China A-share exchange-traded fund in partnership with FundRock for a large Chinese investment manager,” FundRock said in a statement. FundRock is looking to tap into the wealth of Asia’s rising middle class, with Singapore and Hong Kong considered strategic gateways into the continent. Commenting on the new Singapore branch, Walkley said: “FundRock has a long track record of offering solutions to Asia based managers and understanding the specific challenges they face. “Following a significant increase in the number of Asian investment managers setting up funds in Europe, the establishment of a branch in Singapore allows us to better serve our existing clients and expand our client base,” added Walkley. In January 2019, Hong Kong’s Securities and Futures Commission and the Commission de Surveillance du Secteur Financier (CSSF) signed a Memorandum of Understanding on the Mutual Recognition of Funds (MRF), allowing eligible Hong Kong public funds and Luxembourg Ucits funds to be distributed in one another’s market. ©2019 funds global asia

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