(Yicai Global) Sept. 17 -- GaoTeng Global Asset Management, a joint venture of Shenzhen-based Tencent Holdings and Beijing-headquartered Hillhouse Capital Group, has recently obtained the No. 4 and a No. 9 (Public Offering) licenses from the Securities and Futures Commission of Hong Kong.

It has also set up funds invested in oversea markets in the special administrative region and in other qualifying areas outside its borders and will start doing businesses in Hong Kong soon.

GaoTeng Global may now start managing both publicly traded and privately offered funds, as well as plying investment consulting with these two licenses.

Hillhouse Capital Group, founded in 2005, focuses on long-term structural value investing. It has become one of the largest investment funds in assets under management in Asia after its 10-plus years of development.

Wayne Bi, whose Chinese name is Bi Wanying, is chief executive of the JV firm. He is highly experienced in managing both domestic and oversea assets, operations management and risk management, with 18 years' practice in related fields.

Bi has worked in renowned asset management companies, including The Vanguard Group, Evergreen Investments and ING Investment Management in the US. Experts within the industry predict that GaoTeng Global under Bi's leadership will be steady and solid because of his background in risk management and his expertise.

"We know more about Chinese clients," he said. GaoTeng Global will create products that supply the needs of Chinese clients at home and abroad, said Bi, who hopes to offer select products with high quality to investors.

The firm's first publicly traded fund product offers a fixed income.

Editor: Ben Armour