Momentum Global Investment Management, the UK-based business, has received approval from Hong Kong regulators to distribute its Luxembourg-domiciled UCITS umbrella fund to retail clients in the Asian jurisdiction.

Some eight “Harmony” branded sub-funds of Momentum Global Funds have been authorised by the Securities and Futures Commission of Hong Kong: Harmony Asian Growth, Harmony Asian Balanced, Harmony US Dollar Growth, Harmony US Dollar Balanced, Harmony Sterling Growth, Harmony Sterling Balanced, Harmony AUD Growth and Harmony Euro Balanced.

“Asia is a key distribution focus for Momentum and the approval by the SFC for the Harmony funds will provide us with a substantially strengthened platform for our growth strategy in the region,” Ferdi van Heerden, chief executive of Momentum, said in a statement.

The firm said the Hong Kong distribution approval adds to links it has already established in the Asia and Middle East regions, building on strategic partnerships with wealth managers and intermediaries. Moves include the appointment of the Australian based Easton Asset Management, the Australian Stock Exchange listed sub-division of Easton Investments Limited as the global sub-distributor of the Harmony Funds.

Momentum Global Investment Management is part of the Momentum Group, one of the largest insurance companies in South Africa. The asset management business oversaw £3 billion ($4.56 billion) of client funds as of 31 December last year.