Cheng International Asset Management, a wholly-owned subsidiary of Dacheng Fund Management Co., is planning to roll out an independently managed equity fund, Asian Investor reports. The Da Cheng China Core-Satellite Equity Fund, to be sold through retail channels in Hong Kong and Macau, is scheduled to launch on November 21.
The product’s initial public offer will close on December 9. Citibank‘s Hong Kong branch has been appointed as the custodian of the vehicle which will be Da Cheng’s fourth public fund.
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Citibank Cheng International Asset Management Cheng International Macau Dacheng Fund Management Co.