Harvest Global Investments Limited ("HGI") recently launched the second sub-fund of Harvest Global Funds Series OFC. The sub-fund is a money market fund and was recognized by the Securities and Futures Commission of Hong Kong (“SFC”) on January 9, 2025. JunHe has assisted HGI in launching two publicly offered funds in Hong Kong.
HGI was incorporated in Hong Kong in 2008 as a wholly-owned subsidiary of Harvest Fund Management Co., Ltd. ("HFM"). HFM is one of China's top asset management companies and a leader in the domestic asset management industry, with over RMB 1.57 trillion of assets under management. Since its establishment in 1999, HFM has grown into a fully-licensed comprehensive and international asset manager. HGI is one of the first asset management companies in China to establish offices overseas and is dedicated to exploring the Chinese and Asian markets. It has extensive experience in investment strategies.
JunHe assisted HGI in establishing a public umbrella open-ended fund company recognized by the SFC, namely Harvest Global Funds Series OFC and its first sub-fund. The open-ended fund company and its first sub-fund were recognized by the SFC on October 22, 2024. Recently, JunHe advised HGI on the launch of the second sub-fund of the open-ended fund company. The sub-fund is to primarily invest in short-term deposits denominated in USD and high-quality money market instruments issued by governments, quasi-governments, international organizations, financial institutions and enterprises. These include high-quality fixed income securities, commercial papers, certificates of deposit, short-term notes and commercial bills, which may include but are not limited to government bonds, and fixed and floating rate bonds.
As the legal counsel to HGI, JunHe used its extensive experience and expertise in fund establishment to provide comprehensive legal support and advisory services throughout the preparation, establishment and launch of the sub-fund. The legal services provided by JunHe included project preparation, design and optimization, sub-fund structuring, and coordination with the custodian and various professional teams. They drafted the sub-fund establishment documents, the sub-fund prospectus, the product key facts statement and application documents, responded to inquiries from the SFC, and provided modification and response suggestions to the client. With its consistent delivery of top-notch services, JunHe received high recognition, trust and praise from the client. It is the second public umbrella open-ended fund company in Hong Kong that JunHe has recently advised, laying a solid foundation for Chinese law firms to expand into Hong Kong’s publicly offered fund market. It has also enhanced the firm’s capabilities in providing high-level legal services for Chinese asset management platforms in Hong Kong.
JunHe provides clients with exceptional legal services and support and endeavors to promote the development and innovation of Hong Kong’s fund industry. We are proud to assist and witness the success of our clients and look forward to more collaborations in the future.
Partners DE, Lihua (Theresa) and WANG, Weiwei led the JunHe team, and partners WANG, Weiwei, ZHANG, Zhijin (Jean) and XIE, Jiahao were responsible for the specific work related to the fund establishment.