{
  "crd_number": 169318,
  "slug": "red-cliff-asset-management-limited-hong-kong-169318",
  "primary_business_name": "RED CLIFF ASSET MANAGEMENT LIMITED",
  "legal_name": "RED CLIFF ASSET MANAGEMENT LIMITED",
  "dbas": [],
  "city": "Hong Kong",
  "state": null,
  "country": "Hong Kong",
  "cbsa_code": null,
  "metro": null,
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2015-07-22",
  "years_registered": 11,
  "period": "2026-10-01",
  "filing_date": "2026-04-09",
  "carried_forward": false,
  "raum_total": 1545172243.0,
  "raum_discretionary": 1545172243.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 33,
  "advisory_employees": 13,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 138678400.0,
      "count": 1,
      "description": "SEGREGATED ACCOUNT"
    },
    "pooled_investment_vehicles": {
      "raum": 1406493843.0,
      "count": 2
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [],
  "websites": [
    "https://redcliff-am.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/169318",
  "city_as_filed": "HONG KONG",
  "url": "https://advisorcensus.com/firm/red-cliff-asset-management-limited-hong-kong-169318",
  "display_name": "Red Cliff Asset Management Limited",
  "summary": "Red Cliff Asset Management Limited is an SEC-registered investment advisory firm in Hong Kong, Hong Kong, registered since 2015, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated April 9, 2026.",
  "citation": "AdvisorCensus. Red Cliff Asset Management Limited (CRD 169318): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is Red Cliff Asset Management Limited compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Red Cliff Asset Management Limited reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "Where is Red Cliff Asset Management Limited located?",
      "a": "Red Cliff Asset Management Limited's principal office is in Hong Kong, Hong Kong, according to its Form ADV."
    },
    {
      "q": "Is Red Cliff Asset Management Limited registered with the SEC or a state?",
      "a": "Red Cliff Asset Management Limited is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 169318."
    },
    {
      "q": "How much does Red Cliff Asset Management Limited manage?",
      "a": "Red Cliff Asset Management Limited reports $1,545,172,243 in regulatory assets under management in its Form ADV filing dated April 9, 2026 (100% discretionary)."
    },
    {
      "q": "How have Red Cliff Asset Management Limited's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Red Cliff Asset Management Limited: Regulatory assets under management: $5,007,269,090 in the October 2021 data and $1,545,172,243 in the October 2026 data, down 69%. Total employees: 45 in October 2021 and 33 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Red Cliff Asset Management Limited serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (2); other (1)."
    },
    {
      "q": "Which custodians does Red Cliff Asset Management Limited use?",
      "a": "Red Cliff Asset Management Limited's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Morgan Stanley & Co. International PLC as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Red Cliff Asset Management Limited report any disciplinary disclosures?",
      "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/169318"
    },
    {
      "q": "Does Red Cliff Asset Management Limited state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 31, 2026 says: \"As related to the Funds, there is an initial minimum capital contribution requirement of US$ 1,000,000.\" \"We generally do not require the Funds to maintain a minimum investment to continue an advisory relationship, but we do reserve the right to terminate an account based on its size if the account has decreased because of substantial investor withdrawals.\""
    },
    {
      "q": "What changed in Red Cliff Asset Management Limited's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 17 to 13. Regulatory assets under management went from $2,206,762,101 to $1,545,172,243 (-30%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 5007269090.0,
      "total_employees": 45,
      "filing_date": "2021-04-08"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 2137505718.0,
      "total_employees": 42,
      "filing_date": "2022-03-31"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 2729665561.0,
      "total_employees": 44,
      "filing_date": "2023-03-31"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1959652267.0,
      "total_employees": 43,
      "filing_date": "2024-04-02"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 2206762101.0,
      "total_employees": 41,
      "filing_date": "2025-03-31"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 1545172243.0,
      "total_employees": 33,
      "filing_date": "2026-04-09"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 17 to 13.",
        "Regulatory assets under management went from $2,206,762,101 to $1,545,172,243 (-30%)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 31, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$1,000,000",
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $1,000,000"
        ],
        "quotes": [
          "As related to the Funds, there is an initial minimum capital contribution requirement of US$ 1,000,000.",
          "We generally do not require the Funds to maintain a minimum investment to continue an advisory relationship, but we do reserve the right to terminate an account based on its size if the account has decreased because of substantial investor withdrawals."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 1000000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "As related to the Funds, there is an initial minimum capital contribution requirement of US$ 1,000,000.",
      "We generally do not require the Funds to maintain a minimum investment to continue an advisory relationship, but we do reserve the right to terminate an account based on its size if the account has decreased because of substantial investor withdrawals."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Morgan Stanley & Co. International PLC",
      "name_as_filed": "MORGAN STANLEY & CO. INTERNATIONAL PLC",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/red-cliff-asset-management-limited-hong-kong-169318.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 2,
      "fewer_than_5": false,
      "raum": 1406493843.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 1,
      "fewer_than_5": false,
      "raum": 138678400.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/169318",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}