TIANDA ASSET MANAGEMENT LIMITED 天大資產管理有限公司
SFC fines PICC Asset Management (Hong Kong) Co Ltd HK$2.8m for fund management failures
| Statement of Disciplinary Action
SFC, 5-Feb-2024
The firm, owned by PICC (1339) managed a fund which from May-2018 to Jan-2020 only held 1 to 3 stocks, including "Stock X". The manager was "S", who left on 8-Apr-2020. We note that the only licensee who ceased on that date was Mr Shum Wai Nap, who is now licensed to Tianda Asset Management Ltd.
SFC, 5-Feb-2024
The firm, owned by PICC (1339) managed a fund which from May-2018 to Jan-2020 only held 1 to 3 stocks, including "Stock X". The manager was "S", who left on 8-Apr-2020. We note that the only licensee who ceased on that date was Mr Shum Wai Nap, who is now licensed to Tianda Asset Management Ltd.
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