Charles Russell Speechlys advises Freedom Asset Management Group on the Launch of its first Hong Kong Fund

Charles Russell Speechlys has advised Freedom Asset Management (Asia) Limited on the establishment of the Freedom Dragon Funds I OFC and its first sub-fund, the CQF Sub-Fund (together, the “Fund”).

The Fund is structured as a Hong Kong private umbrella open-ended fund company (“OFC”) with variable share capital, limited liability and segregated liability between sub-funds.  The Fund is registered with the Securities and Futures Commission of Hong Kong (“SFC”) and incorporated under the Securities and Futures Ordinance (Cap.571) 

The CQF Sub-Fund, in particular, is a fund-of-funds that will allocate capital to selected PRC onshore hedge funds implementing fundamental long/short strategies with a focus on listed equities.  

Freedom Asset Management (Asia) Limited (“Manager”) is an SFC-regulated entity that is licensed to carry out Type 9 (asset management) regulated activity. It has also been granted a QFII licence by the CSRC.  The Manager is part of the Freedom Asset Management group of companies (“Freedom Group”), which operates regulated investment management businesses in Guernsey, Abu Dhabi and Hong Kong.  The Freedom Group manages funds and client relationships totalling approximately US$1 billion in assets across 16 fund products, offering innovative investment solutions for private clients, family offices and institutions in Europe and the Middle East.  Since 2019, the Freedom Group has been a strategic partner of Abu Dhabi Catalyst Partners – a division of the Abu Dhabi Sovereign Wealth Fund Mubadala Capital.  

Gaven Cheong, Partner in the Financial Services Regulation & Funds team at Charles Russell Speechlys, comments: 

"We were delighted to have been able to support the Manager and the wider Freedom Group on this new launch.  Hong Kong is an obvious landing point for the Freedom Group’s expansion into the Greater China and APAC region, and its particular decision to structure this first Asian fund as an OFC speaks to its trust and confidence in Hong Kong’s world-class financial, regulatory and capital raising infrastructure.”

Adrian Harris, Co-Founder and CEO of the Freedom Group adds:

“It was a pleasure working with Gaven and his Investment Funds and Regulatory team.  Their responsiveness, sound technical support, and commercial acumen, allowed for a smooth and efficient pathway to launch.”

The team was led by Gaven Cheong, and supported by Didi Chan and Karen Austin, also in the Firm’s Financial Services Regulation & Funds team.