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Cohen & Steers Opening Hong Kong Office

HONG KONG-In support of two new mutual funds focused on global real estate securities, the New York-based manager of high-income equity portfolios hires Derek Cheung, the company's new head of Asia/Pacific research, to establish an office here.

By Brian K. Miller | Updated on April 20, 2005

HONG KONG-Cohen & Steers is opening an office here in support of its two new mutual funds focused on global real estate securities. The New York-based manager of high-income equity portfolios has hired Derek Cheung, most recently HSBC’s head of Hong Kong and China property research, to establish the office as head of Asia/Pacific real estate securities research.The office will support Cohen Steers’ investment management activities as well as that of its affiliate, Houlihan-Rovers, S.A., a Belgium-based investment manager of real estate securities. Houlihan-Rovers, is the sub-advisor for the two new funds. “The international market for real estate securities is larger than the U.S. market and in our view is still in its early growth phase,” says Cohen & Steers co-CEO Martin Cohen. “We believe there will be strong investor demand for global and international real estate securities as these markets continue to develop.”Cheung has covered Hong Kong and China property stocks since 1997. Prior to HSBC, he did stints at at Donaldson, Lufkin & Jenrette and Salomon Smith Barney. Cheung is a Certified Public Accountantand holds a BA degree from Hong Kong Polytechnic University.In March, Cohen & Steers launched the Worldwide Realty Fund, a closed-end fund with a primary objective of high current income through the investment in global real estate securities, and International Realty Fund, an open-end fund with a total return objective that will invest at least 80% of its assets in non-U.S. real estate securities.

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