Ayaltis, a Swiss fund-of-hedge-funds boutique, is dispatching one of its senior analysts to Hong Kong to open a family office, according to fund portal Citywire. The move of analyst Hao Shao aims to cash in on hot demand from Chinese families for unbiased advice, as well as to build on the large proportion of assets from Hong Kong that Ayaltis already manages.
Shao, who has spent the last six years in Zurich, will start with a team of three and has plans to hire five more people in Hong Kong, as well as eight more in mainland China. Shao told Citywire the new firm will focus on hedge fund investments in Asia, with a particular focus on China. The move marks a notable expansion step for Ayaltis, which was founded at the peak of the financial crisis ten years ago.
Ayaltis was financially backed by the family office of entrepreneur, art collector and former Swiss ambassador to China Uli Sigg.
Shao remarked that his goal is to lure Chinese quant analysts currently with U.S. firms, hoping to return to Asia. “They cannot implement everything they learned in the U.S., the market is still in an early stage but given the fact that it is the second largest economy and stock market, there are ample opportunities and extremely attractive returns for a skilled investor,” he told Citywire.