China Universal Asset Management has strengthened its Hong Kong operations with the launch of a Greater China-focused fund.

The CUAM China-Hong Kong Strategy Fund was launched November 16 and is designed to capture medium to long term capital opportunities in Greater China's equity markets at a time of rapid economic growth. 

The firm said that Hong Kong Exchange-listed firms will benefit from China's growth, especially after the latter delivered an annual growth rate of 7.4 per cent in the third quarter. Chinese firms account for some 56 per cent of all the HK Exchange-listed stock based on market capitalisation.

China Universal Asset Management has around RMB86 billion ($13.8 billion) in assets under management as of 30 June 2012 and ranks 8th among the 68 asset management firms operating in China. The company also entered the international market early this year with the launch of its first RQFII product.