ARMONK, N.Y.--()--Cutwater Asset Management, one of the world’s largest fixed income investment management firms, announced a partnership agreement with noted Hong Kong-based, Chinese financier, Bing Li, Director of Li Brothers Holding Ltd., who will now function as a trusted partner and act on behalf of Cutwater in all dealings with major Chinese institutions.
Clifford D. (Cliff) Corso, CEO and Chief Investment Officer of Cutwater, said about his new association with Bing Li, “This partnership with Bing Li, who has been a long-time business associate, will provide Cutwater with a trusted partner with on-the-ground access and insight into the Chinese capital markets and we look forward to long and fruitful relationship of trust for both Cutwater and Bing.”
Bing Li, U.S. educated at Rutgers University, speaks, reads and writes both Chinese and English. He has wide experience beginning with various managerial positions at HSBC Securities in New York, a seven-year tenure that began with an internship. He also had experience working in London and in Hong Kong for JP Morgan Securities (Asia Pacific) Limited and Deutsche Bank Group. He also was a managing director at Tandem Global Partners, www.cutwater.com.
Cutwater has also been recently awarded a qualified foreign institutional license (QFII) by the China Securities Regulatory Commission.
Cliff Corso, CEO and Chief Investment Officer of Cutwater Asset Management, said of the firm’s QFII licensing: “We are gratified with the quickness with which we were able to obtain the necessary licensing allowing Cutwater access to the world’s second largest economy’s capital markets. It also provides access to Chinese clients wishing to invest outside China. The QFII licensing and our partnering with Bing Li are important milestones for Cutwater.”
QFII now permits licensed foreign investors to buy and sell yuan-denominated “A” shares in China’s mainland stock exchanges (in Shanghai and Shenzhen). Chinese mainland stock exchanges were previously closed off to foreign investors due to China’s tight capital controls of the movement of assets in-and-out of the country.
By establishing the QFII program in 2002, China began the process of opening its capital markets to foreign investors. In 2012, China continued its opening up by increasing its QFII quota from $30 billion to $80 billion and signaled its intentions to loosen its strict capital controls, liberalize its capital accounts and further internationalize its currency.
About Cutwater
Cutwater Asset Management is a client-focused and solutions-based investment advisor focused exclusively on fixed income investments. With over $30 billion in assets under management, Cutwater Asset Management is one of the largest institutional fixed income investment managers in the world. Cutwater's model combines world-class investment expertise and risk management capabilities with exceptional client service, in-depth consultation, and extensive interaction between clients and the investment team. Our investment philosophy is focused on delivering consistent and superior risk-adjusted returns by taking a long-term view of the market and applying a counter-cyclical and forward-looking approach to capital allocation. For more information, please visit our website at www.cutwater.com.
About Li Brothers Holding Ltd.
Li Brothers Holdings Ltd. (LBH) is a Hong Kong-based company which provides consulting services to foreign institutions across various industries and markets in Asia, with experience in cities including Hong Kong, Beijing, Shanghai and Singapore. Our team consists of specialized professionals in corporate finance, global capital markets, accounting and marketing. LBH takes pride in providing extensive knowledge in each respective market and industry while assuring clients with quality service and assistance.