XCAP in deal with GCAM

GCAM

has a network of stockbroking companies in Asia, including China,

India, Malaysia, Singapore and Korea.

Wilmslow-based

XCAP and GCAM will promote each other’s services in the UK and Asia,

and XCAP’s clients will have exclusive access to GCAM’s research on

Far Eastern, Asian and Indian companies.

It

is anticipated the arrangement will lead to a formal joint venture.

XCAP

said the deal fits well with its strategy of targeting the far and

middle eastern marketplaces.

It

is anticipated that the deal will see the two firms raise capital for

Asian firms in the UK.

And

it is hoped GCAM’s network of investors will invest in XCAP’s funds.

XCAP

chief executive Nitin Parekh said: “Asia and the Middle and Far

East are rapidly growing markets, and ones in which we are focussed

on developing our offering.

“As

well as promoting XCAP’s services in these markets, working with GCAM

offers us a unique opportunity to access and promote the best of our

target overseas markets to our clients in London.

“In

addition we are keen to find ways of distributing our asset

management product and GCAM’s network has excellent access to the

burgeoning Asian private client market.”

AIM-listed

XCAP’s shares were unchanged at 0.4p on the news.

XCAP in deal with GCAM