Four Irish-domiciled UCITS (Undertaking for Collective Investment in Transferable Securities) funds have received approval from the Securities and Futures Commission of Hong Kong and are now open to investors there.

The approval came through on 19 August. The funds come from New Capital, a brand of EFG Asset Management or EFGAM.

* New Capital China Equity Fund is managed by Mansfield Mok, an award-winning portfolio manager, who has more than 25 years of experience investing in Chinese equities. The four star Morningstar-rated fund invests in a concentrated portfolio of stocks which have modest valuations yet strong growth potential, and are positioned to benefit from Chinese reforms.

* New Capital US Growth Fund is a four-star Morningstar-rated fund managed by a team that has a 25 year track-record of investing in growing US companies. The fund aims to invest in US mid- and large-cap stocks that are trading at low intrinsic valuations.

* New Capital Asia Pacific Equity Income Fund is run by industry veteran Tony Jordan who has over 30 years of investment experience in Asian equities. The fund aims to produce returns for investors by investing in high-yielding stocks with good growth potential in the Asia Pacific region.

* New Capital Wealthy Nations Bond Fund seeks investment opportunities in sovereign and corporate debt in markets both advanced and backward. The fund "has a unique non-benchmark approach," according to its propaganda.

EFGAM hopes that this next generation of funds will improve the service that New Capital gives to its clients in Hong Kong and Asia as a whole. These include the private banking clients of its parent company, EFG International.

In Singapore EFGAM's funds serve "accredited investors" only. In the US, for an individual to be considered an accredited investor, he must have a net worth of at least $1 million in investable assets, not including the value of his primary residence.