Chinese-backed asset manager launches in UK

Chinese-backed asset manager launches in UK

A new boutique asset manager backed by a Chinese conglomerate has launched into the UK.

South River Asset Management is the result of a management-backed acquisition of Peterhouse Asset Management by Zhejiang Zhongnan UK Ltd.

The Chinese group purchased the asset manager from Peterhouse Corporate Finance, before renaming it South River Asset Management, a nod to the backer’s location on the Qiantang river in Hangzhou, Zhejiang Province.

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The new investment company will use its existing platform to offer a range of specialist mandates. At launch these will include its flagship Gold and Precious Metals fund, managed by a director of ZZ UK and Amanda Van Dyke, a senior fund manager at South River.

The business also manages a range of segregated mandates for institutions including UK universities.

A range of multi-asset funds is managed by South River (Guernsey) and advised by South River Asset Management, from cautious cash+ products to diversified mixed asset and single strategy products.

The group currently has about $100m (£72m) in assets under management.

Ms Van Dyke commented: "ZZHG is a top 500 Chinese private enterprise and has ambitions to grow in asset management, both here in the UK and in China.  

"As the leading conglomerate in Zhejiang province, the group has access to a superb network of individuals who want to invest in Europe to grow their wealth, and we are delighted to be involved in a true east/west partnership.”