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O’Melveny’s Zhang Quoted in Asian Venture Capital Journal on Fund-of-FundsSeptember 11, 2013 O’Melveny & Myers counsel Xuan Zhang was quoted in a September 11, 2013, Asian Venture Capital Journal article, titled “RMB Fund-of-Funds: Patience is a Virtue.” The article follows the downward trend of the global fund-of-funds industry, and discusses the current state of Renminbi fund-of-funds. Zhang told the publication that “many Chinese insurers want to build their own fund management teams instead of outsourcing investment activity. They are not really interested in investing in fund-of-funds given the extra layer of fees compared to investing directly into funds,” which emphasizes the key point that Renminbi fund-of-funds have yet to emerge as a visible investment segment and struggle to find backers.
Zhang is a member of the Investment Funds Practice, and resides in the Firm’s Beijing Office.