AuYeung (also Au Yeung), Tat Hin of Apex Capital Management, LLC
Tat Hin AuYeung (also Au Yeung) of Apex Capital Management, LLC
Tat Auyeung is quoted in numerous articles regarding Chinese investment as either the manager director of Apex and the trading head for HSBC.
In July 2004 it was reported that Tat Auyeung, the former head of proprietary trading for HSBC in Hong Kong, had teamed up with US hedge fund manager Apex Capital and Chinese brokerage Guotai Junan Securities to launch The Apex Guotai Junan Greater China Fund. The long/short equity fund debuted with assets under management of $12 million. The fund invests in China-related stocks in Hong Kong, Taiwan, South Korea and the United States.
In August 2005 Fairfield Straits Lion Asset Management Ltd., Singapore, started a long/short equity fund that will invest in China, Hong Kong, Taiwan, and surrounding countries. Apex Capital Management Ltd will manage Fairfield Apex Greater China Equity Fund Ltd.
In September 2005 Apex Capital Management denied it had any financial ties with its partner, Chinese brokerage Guotai Junan Securities, which had just been handed a large fine from Hong Kong regulators. Apex, which is run from offices in Hong Kong and New York, manages the Apex Guotai Junan Greater China Fund. Tat Au Yeung noted that Guotai Junan only provides research, marketing and distribution capabilities to Apex. “We don’t have any financial relationship, in terms of asset management or placing funds with Guotai Junan. There is no financial dealing between us and Guotai Junan. Our assets are completely separate with our administrator and prime broker. So whatever happens at Guotai Junan has nothing to do with us.”
The Hong Kong Securities and Futures Commission reprimanded the Hong Kong branch of Guotai Junan Securities and fined it HK$400,000 ($51,300) for lapses in its financial controls. The regulator says the violations showed it had been “guilty of misconduct and that its fitness and properness has been called into question.”