Pureheart Australia Pty Ltd Receives Final AFSL from ASIC

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Sophie Grace recently assisted Pureheart Australia Pty Ltd (“Pureheart Australia”) to obtain an Australian Financial Services Licence (“AFSL”) to issue and act as an investment manager for wholesale managed investment schemes and securities products. The AFSL application was lodged with ASIC in November 2019 and approved in June 2020.

Pureheart Australia’s parent company is licensed in Hong Kong and specialises in hedge funds. With the AFSL, Pureheart Australia is able to expand its business into the Australian market and provide wholesale fund services in Australia across a range of underlying assets.

We asked Mr Weng, one of the Responsible Managers of Pureheart Australia, a few questions about his experience working with us. Mr Weng explained “Melody Gao made her best effort to understand our business and provided objective opinion before the engagement. That is the reason we chose Sophie Grace. The whole application process is quite smooth and the licence was granted faster than our expectation”. We wanted to know if anything about the application process surprised Mr Weng, he responded by saying “No. Everything is as good as we expected”. In terms of working with the Sophie Grace team, “Melody Gao always communicates with us efficiently” said Mr Weng. When asked if Mr Weng would recommend our services to others, Mr Weng states “Yes, I will be very confident to recommend Sophie Grace to others”.

Hal Weng – Responsible Manager of Pureheart Australia Pty Ltd

If you would like to know more about Pureheart Australia Pty Ltd, please contact Sophie Grace directly for an introduction.

About The Author

Melody Gao

Melody assists in preparing, reviewing and negotiating legal documentation for participants in the financial services industry. Melody also assists with developing, reviewing and amending compliance documentation. She also supports the Compliance Consultants with the preparation of AFSL and ACL applications, variations and compliance reviews. Melody provides ongoing legal support and also assists in implementing ongoing compliance support, updating procedural documentation and preparing compliance reporting for Compliance Committees and Boards of Directors.

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