HAMS addresses a gap in the Hong Kong market in an innovative way. As is the case in many jurisdictions, the majority of listed companies are controlled by one or more shareowners. Minority investors are at risk, but the constituency available to press their interests strongly is fragmented and conflicted. HAMS is designed to level the playing field with credible research and advocacy. A balance of interests in the market should over time reduce risk and volatility, helping Hong Kong companies draw loyal, long-term shareowners at a lower cost of capital. Davis Global Advisers (DGA) endorses the principle of HAMS, but takes no position on its architectural details. DGA's chief concern is that HAMS be governed and managed in such a way as to align its work entirely with the interests of minority investors, and not any political or other interests. If HAMS succeeds, it could prove a new model for markets elsewhere.
Davis Global Advisors is the leading consultancy specializing in international corporate governance. Based in Boston, its clients are in 19 countries. They include investing bodies, stock exchanges, international organizations such as the OECD and World Bank, corporations, regulators and accounting and law firms. DGA also publishes the weekly Global Proxy Watch newsletter. Founder and president Dr. Stephen Davis is a member of the Board of Governors of the International Corporate Governance Network, which represents the interests of institutional shareowners with US$10 trillion in assets around the world, and the International Investment Advisory Board of Euronext. He is also on the Advisory Board of Sumitomo Trust & Banking's Japan Investment Forum, and the advisory board of the European Commission's governance project led by the Center for Economic Policy Research.