Hong Kong

MFEX continues to grow in Asia; opens office in Hong Kong

The MFEX group has announced that MFEX Hong Kong, 100% subsidiary of MFEX Mutual Funds Exchange AB, has been awarded the Type 1 license (dealing in securities) by Hong Kong’s Securities and Futures Commission (SFC).

MFEX Hong Kong is slated to become the commercial center for MFEX in North Asia focusing on business development, sales and client service. Its priority is to serve Distributors and Asset Managers based in Hong Kong, Taiwan, Korea and Japan, according to a press release by MFEX.

Sara Wong, Steffen Ahlers and Yong Sheng Aw are appointed Responsible Officers of the entity.

Sara Wong, RO, MFEX Hong Kong, said: “This marks yet another milestone in MFEX’s exponential growth in the region. We are fully committed to developing our capabilities in Asia to better serve our clients and partners.”

Torben Munch, CEO, MFEX Group, said: “The awarding of the SFC license and establishment of MFEX Hong Kong Ltd is further testament to the MFEX growth story. Even as the firm rapidly increases its footprint on the global fund distribution space, we remain staunch in our efforts to build a neutral infrastructure, fully transparent and free of any conflict of interest for the benefit of our partners, Asset Managers and Distributors alike.”

Steffen Ahlers, CEO, MFEX Asia, said: “MFEX has 50 fund specialists covering front to back office operations based across three Asia offices in Singapore, Kuala Lumpur and Hong Kong. The establishment of MFEX Hong Kong with a Type 1 license from the SFC allows us to leverage on this strong foundation to deepen our relationship with over 70 Distributors and Asset Managers partners in the region.”

Singapore remains the regional hub for MFEX in Asia, says the firm.