Axion Global Asset Management secures regulatory approval to manage cryptocurrency funds

HONG KONG SAR – Media
OutReach – 20 January 2022 – Axion Global Asset Management
Limited (“AGAM” or the “Company”), a subsidiary of Edvance International
Holdings Limited (SEHK stock code: 1410.HK), is set to launch the Smart Beta
Fund SP (“Smart Beta Fund”) after receiving approval from the Securities and
Futures Commission in Hong Kong (“SFC”) to manage portfolios that invest up to
100% in virtual assets.

The Company’s new flagship product, the Smart Beta Fund, enables
Professional Investors¹ to invest confidently in the fast-growing
cryptocurrency market via a secure investment vehicle that is managed by a SFC
regulated manager.  The Fund seeks to
provide superior risk-adjusted returns by tracking the Axion Global Smart Beta
Liquidity Index.  The Index has consistently
outperformed industry benchmarks and is comprised of the ten most highly valued
qualified cryptocurrencies weighted by proprietary investment factors. The
Company plans to reach US$100 million in AUM for this Fund.

The launch of the Smart Beta Fund follows the recent launch of the
Axion Global Innovations Fund that invests in early-stage digital asset
ventures in the burgeoning blockchain and digital assets ecosystem.  As a specialist asset management company that
focuses on digital assets and related blockchain opportunities, the Company
expects to roll out more products in the future with different strategies to
capture returns for investors.

‘We saw the opportunity to create the Smart Beta Fund that will
inspire confidence and win the trust of professional investors by combining
crypto investment expertise with high governance and operational standards.’
said Mr. Scottie Siu, Investment Director of Axion Global Asset Management
Limited. ‘Not only that, we work with best-in-class and regulated
custodians and trading platforms such as BitGo Trust, Coinbase and OSL, market
leading legal advisors Baker McKenzie and Mourant Ozannes, and expert virtual
assets fund administrator Ascent Fund Services to operate the fund in
accordance with the highest industry and regulatory standards. The AGAM team
was also supported by Sidley Austin, the leading legal advisor, during the
approval process with the SFC.’

 

Mr. Gavin Ho, Strategy Director of Axion Global Asset Management
Limited commented, “We are thrilled for Axion Global Asset
Management to receive regulatory approval as a virtual assets manager and are delighted to have the backing of our parent company Edvance International,
who has been a leader in the cybersecurity space for over 20 years, with whom
we share a common vision to innovate and be one step ahead in sectors that we
operate in.  We see tremendous potential
and demand for innovative digital asset products and offerings in the future.’  

 

[1] The term “professional
investor” has the meaning as defined under the Securities and Futures Ordinance
(Cap. 571 of the Laws of Hong Kong) and its subsidiary legislations.