By introducing tailored fund services, Vistra believes it can fulfill the specific requirements of the Hong Kong, mainland Chinese and broader Asian markets.
Vistra has a strong track record designing and implementing bespoke fund solutions for clients in Europe, said Charles Kwun, Managing Director of the Hong Kong fund services team. ow we are exporting that knowledge and experience and making it available to Asian fund clients. We believe the combination of our highly experienced management team, backed by the resources available in the Group, including the tried and tested Advent Geneva system, will appeal to Asian investors with the most demanding of fund design requirements.
These particular requirements may include setting up multi-jurisdictional structures in both Asia and Europe to facilitate investments into different markets, or assisting clients in forming various offshore structures limited partnerships, companies or trust vehicles according to their particular structuring needs.
Vistra has had a presence in Hong Kong since 2009, and the launching of its Hong Kong headquartered fund service operation in February this year is a sign of continued confidence in the region potential. The operation works with private equity, real estate, venture capital and hedge fund managers to administer and report on their investment activities to their investors and Limited Partners, and the company administers RMB funds, as well as funds domiciled in Cayman Islands, Luxembourg or Jersey.
Vistra formally entered the Chinese mainland market by establishing operations in Guangzhou, and last week marked its continued expansion in China with the opening of offices in Shanghai and Beijing, coinciding with the official launch of Vistra Fund Services Asia.
The company increased presence in mainland China is linked to its December 2011 acquisition of Cynosure, a corporate services provider which specializes in establishing Wholly Foreign Owned Enterprises (WFOEs) in China. WFOEs are generally used by foreign companies who wish to establish businesses in mainland China, and the service is expected to be a worthwhile addition to Vistra portfolio of services.
Vistra Chief Executive Martin Crawford said, ynosure skill set complements Vistra activity locally in China, but also importantly across Europe. We are anticipating growth via business referrals from our European and Asian intermediary networks, as well as from Cynosure relationships with their existing clients. /p>
The existing clients, who were gained during Cynosure six years in the industry, come from Western Europe, the USA, Australia and Asia, and will continue to benefit from Cynosure expertise in WFOE set-up, accounting, payroll, corporate secretarial support and the preparation and lodging of government returns, along with the corporate, fund and trust services that Vistra brings to the table.
