- We are talking about Hang Seng Investment Management
- This is a major investment fund manager in Hong Kong.
Hang Seng Investment Management Limited (HSIM) considers the option of placing cryptocurrencies in existing investment products. This was stated by Li Peishan, director and CEO of the company. HSIM is part of the large conglomerate Hang Seng Bank (China). It is the largest company in Hong Kong that manages investment funds.
Ms. Peishan said that the fund does not currently have a clear decision to create its own bitcoin ETF. So she commented on the recent news from HSBS. Recall that this is the largest bank in Hong Kong, which opens trading in cryptocurrency ETFs.
HSIM also pays key attention to the development of digital assets. They are considering a plan to deploy cryptocurrencies in existing investment products.
In 2022, HSIM launched a tool called ETF Connect. It allows retail clients to invest in futures. The fund accumulated over HK$12 billion in AUM (assets under management) last month. This is almost 80% more than in December 2022. At the same time, over the past 6 months, ETF Connect has increased its trading volume by 7 times to 1.7 billion yuan. The fund accounted for 6% of Hong Kong Stock Connect’s total trading volumes.
The introduction of cryptocurrencies into the ETF Connect index may affect trading in yuan-denominated shares. According to HSIM, this will contribute to the internationalization of the Chinese currency.