Oberweis Asset Management has launched a mutual fund to take advantage of opportunities in China. The China Opportunities Fund will invest in companies that do half their business in China and that are based in China, Hong Kong or Taiwan.

The new fund marks a change in direction led by Jim Oberweis, the firm's president and son of its founder Jim Oberweis. The elder Oberweis has stepped back from his daily role at the firm to concentrate on a run for a Senate seat in Illinois.

Until now, Oberweis has concentrated on following small cap and emerging companies based in the United States.

To support the effort, Oberweis has opened an office in Hong Kong and hired Vanessa Shiu as director of research for the office. Shiu has already hired one analyst and is seeking another.

While Oberwies manages some $1.6 billion in its three U.S. focused funds, Jim Oberweis hopes that the new fund can pull $250 million in new assets, according to a Reuters report.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE