UPDATE: Harvest Funds Launches U.S. Distribution

Harvest Fund Management (“Harvest”), one of China's leading asset management companies, today announced that it has launched Harvest Krane, a pioneering joint venture between its international subsidiary, Harvest Global Investments, and Jonathan A. Krane and his team of industry veterans, which will distribute China and Asia-focused mutual funds to institutional and retail investors in the U.S. The first offering in the U.S. is the Harvest Funds Intermediate Bond Fund HXIIX (the “Fund”) advised by Harvest Global Investments. The Fund's investment objective seeks long-term total return through a combination of capital appreciation and current income by primarily investing in investment grade and high-yield, high-quality China bonds. The Fund marks the first time that an investment product actively managed by a Chinese asset manager is available in the U.S. Harvest Global Investments and Harvest Krane are working together on additional fund launches designed to bring a broad range of professionally managed Chinese and Asian investment opportunities to help investors in the U.S diversify their portfolios. “We are extremely excited and proud to enter the United States market. We have created a unique, first-of-its-kind platform that allows U.S. investors to diversify into the compelling long-term growth trends in the Chinese and Asian economies through funds managed by Harvest professionals based in China,” said Henry Zhao, Chief Executive Officer of Harvest Fund Management. “We will deliver to U.S. institutional and retail investors an invaluable perspective and insight into Asia and China, the world's fastest growing major economy, through our leading portfolio managers on the ground, while at the same time introducing the U.S. investment community to our international subsidiary Harvest Global Investments.” “Our Harvest Krane joint venture, headquartered in New York, has been built from the ground up for this purpose,” said Peng Wah Choy, CEO of Harvest Global Investments. “It brings world-class U.S. investment sales and management talent together with Harvest's international distribution team, with a singular focus on building trusted relationships that aim at delivering results. We are very pleased to partner with Krane in that effort,” Peng Wah Choy continued. “Most U.S. investors are under-allocated to China and Asia, particularly in light of China's growing role in the global economy,” said Jonathan A. Krane, Chief Executive Officer of Harvest Krane. “The opportunity to close that allocation gap is extraordinary. We are delivering to the U.S. investor community income and growth opportunities from the Chinese and Asian capital markets, leveraging our local Chinese research and managers.”