Capturing Asian Wealth Opportunities
Toscafund established a new office in Hong Kong to expand its footprint in the region.
Hong Kong, as the interconnector between Mainland China and the global community, and the world’s largest offshore renminbi centre, is an ideal global hub for family offices.
Toscafund is a United Kingdom-headquartered investment firm with over 20 years of asset management and family office investment experience. It has offices in key markets such as London, Manchester, New York, and Melbourne. In 2022, the company expanded its global network by establishing a new office in Hong Kong. This move aimed to enhance its capabilities in fund distribution and investment across specialised areas, including listed equities, private equity, private debt, and United Kingdom commercial property.
The company, aiming to seize growing wealth opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and Asia, plans to accelerate its Hong Kong operation and provide market-leading investment products using a multi-family office approach. Currently, its clients include financial institutions, family offices, high-net-worth individuals (HNWIs), endowment funds, and asset consultants.
A World of Opportunities for Family Offices
Hong Kong, being a leading global financial hub and wealth management centre, presents numerous unique advantages for the operation and expansion of family offices. The government has recently released a Policy Statement focused on the development of family office businesses in Hong Kong. This demonstrates the government’s determination to establish a conducive and competitive environment that fosters the growth and success of global family offices and asset owners operating in the city.
Hong Kong’s distinct positioning attracts affluent individuals and family offices worldwide, as mentioned by Mark Tinker, Chief Investment Officer and Managing Director of Toscafund Asset Management (Hong Kong) Limited. “Toscafund is a global investor, requiring access to corporates and capital markets in Asia, the United States, Europe and the United Kingdom. Toscafund is drawn to the increasing sophistication of the family office landscape in Asia, with a specific focus on Hong Kong,” Tinker said. “Hong Kong, as the interconnector between Mainland China and the global community, and the world’s largest offshore renminbi centre, is an ideal global hub for family offices.
With the new Hong Kong office opened in 2022, Tinker stated, “Our goal is to participate in the GBA market. It has a growing HNWIs population with increasing sophisticated investment demands, and we see Hong Kong’s future as the financial centre for the GBA. This strategic perspective makes Hong Kong a key location for Toscafund,” Tinker added.
Diverse Investment Strategies
Toscafund offers a wide array of sophisticated and diverse investment strategies encompassing both public and private markets. Notably, a substantial proportion of its assets under management originates from its founder and partners. This distinctive characteristic effectively positions Toscafund as more akin to a multi-family office, going beyond a conventional fund management firm.
Tinker stated, “Toscafund’s diverse investment strategies are particularly well-suited to family offices in the Asian region. What sets us apart is our significant investment commitment to these strategies. This creates a strong alignment of interests between Toscafund and families who choose to invest alongside us, offering a compelling opportunity for collaboration and shared success.” He added that the firm has recently launched its inaugural fund to be managed in the region.
Regarding personal sentiments, Tinker expresses admiration for the vibrancy of Hong Kong. He notes that the team at Toscafund comprises locals or individuals with significant tenure in the city. Despite the challenges posed by the pandemic, Tinker highlights the recent reopening and the swift return to normalcy. In his view, Hong Kong is always the premier destination for both work and living in Asia.
- The company was founded in 2000 by Martin Hughes. It has five offices globally, and US$4.7 billion in assets under management as of 31 December 2022
- Toscafund Asset Management (Hong Kong) Limited is licensed by the Securities and Futures Commission of Hong Kong for Type 1 (dealing in securities), Type 4 (advising on securities) and Type 9 (asset management) regulated activity
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