BMO plans investment team to run HK funds

Canada's BMO Global Asset Management plans to set up an investment team in Hong Kong for locally domiciled products, with a view to selling them into China once the proposed mutual recognition agreement is in place. It also aims to strengthen its distribution capabilities in Asia. This will add to the $130 billion firm's asset management presence in the city through Lloyd George Management, a $2.5 billion shop it acquired in 2011 specialising in frontier and emerging markets. Th…