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Sun Hung Kai & Co. Launches Mortgage Servicing Business to Manage a US$100M Institutionally Owned Residential Mortgage Portfolio
Sun Hung Kai & Co. Limited (SEHK: 86, "SHK & Co.") is pleased to announce the launch of its new mortgage portfolio services. This initiative focuses on managing a residential mortgage portfolio recently acquired by institutional investors. Sun Hung Kai Credit Limited (“SHK Credit”), a subsidiary of SHK & Co. and a leading non-bank property mortgage provider in Hong Kong, will offer comprehensive administrative services and institutional-grade portfolio performance monitoring to these investors.As the Hong Kong property market begins to stabilise, developers are increasingly focusing on the sale of residential units and optimising their balance sheets. This has led to more developers divesting their residential mortgage portfolios and outsourcing their mortgage administration and servicing to third party service providers.Gigi Wong, Head of Business Development, Real Estate and Private Credit at SHK & Co., shared her views, “As the cost of capital for mortgage portfolios is likely to rise, we anticipate an increase in mortgage portfolio disposals. Residential mortgage portfolio investments present a compelling opportunity to integrate our retail mortgage platform with our institutionalised private credit platform. This approach facilitates effective portfolio management and when leveraging our own capital, it would align our interests with those of our investors. SHK & Co. has been active in alternative investments, particularly private credit, for many years. With Hong Kong being one of our core markets, we are excited about this new initiative. We look forward to collaborating with prospective mortgage portfolio investors and developers going forward.”- End -About Sun Hung Kai & Co.Sun Hung Kai & Co. Limited (SEHK: 86) (“SHK & Co.” / the “Company”, together with its subsidiaries, the “Group”) is a leading Hong Kong-based financial institution recognised for its expertise in alternative investments and wealth management. Since 1969, the Company has built a diversified investment portfolio across public markets, credit and alternatives strategies including real estate and private equity, delivering long-term risk-adjusted returns.Leveraging on its deep-rooted Asian heritage, SHK & Co. supports and nurtures specialist emerging asset managers in the region, empowering them to excel. SHK & Co. also utilises its long-standing investment expertise and resources in providing tailored investment solutions to like-minded partners and ultra-high-net-worth investors through its Family Office Solutions. As at 30 June 2024, the Group held about HK$39.5 billion in total assets.For more information about SHK & Co., please visit www.shkco.com / follow the Company on LinkedIn.For media enquiries, please contact:Hill and KnowltonJoanne Lam +852 9839 6552Sidney Leng +852 5443 4320Lynn Zhang +852 9794 5751Email: SHKCo@hkstrategies.com11/11/2024 Dissemination of a Financial Press Release, transmitted by EQS News.The issuer is solely responsible for the content of this announcement.Media archive at www.todayir.comEQS
Nov 11, 2024
Earning Less Than $176,100 Per Year? This Social Security Change Coming in 2025 Could Affect You.
A new year brings fresh changes to Social Security. One of the most prominent changes is the cost-of-living adjustment (COLA), which will be 2.5% this year and is slated to boost tThe Motley Fool
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