GEM Asset Management, the wholly-owned subsidiary of Yangzijiang Financial YF8 , has signed a memorandum of understanding (MOU) with private market exchange ADDX to distribute its capital market products.
According to Yangzijiang Financial, ADDX will serve as an additional channel to distribute its funds, including its newly-introduced maritime fund and cash management fund.
The move is said to broaden Yangzijiang Financial’s investor reach and boost its assets under management (AUM).
Yangzijiang Financial, on March 1, announced the establishment of a maritime fund named Yangzijiang Maritime Private Equity Fund #2. The fund has a target size of US$600 million ($811.0 million). At the same time, the group announced that it will be establishing a cash management fund with a target size of $200 million. The latter will be established under the variable capital company structure, with multiple sub-funds, which segregates assets and liabilities from each other.
“This partnership with ADDX is expected to extend the breadth and scope of our capital markets products, thanks to ADDX’s wide-ranging network. Our collaboration with ADDX will add another distribution channel for our funds, allowing the group to reach a much wider investor base, increase our AUM, and boost our recurring management fee-based income. It’s exciting to see the level of technology and innovation that ADDX is bringing to the private asset markets, and we look forward to working with them,” says Vincent Toe, CEO and CIO of Yangzijiang Financial.
“This collaboration reaffirms our commitment to expanding our capabilities and providing our investors and wealth management partners across the globe with a full shelf of investment solutions. In a time of unprecedented volatility and declining returns in the public markets, investors need diversification into private markets more than ever. ADDX is committed to transforming the investing landscape, and signing this memorandum of understanding brings us a step closer to that goal,” says Choo Oi-Yee, CEO of ADDX.
See also: CapitaLand Investment closes new KRW200 billion value-add office fund
Shares in Yangzijiang Financial closed 1.5 cents higher or 3.95% up at 39.5 cents on March 9.
