Fidelity International’s foreign-owned private fund management company in Shanghai has unveiled its first private fund in China.
Fidelity International’s (FI) first private fund in China (the Fund) primarily invests in Chinese onshore bond markets with an objective to achieve income and capital appreciation. The Fund is available to eligible Chinese institutional and high-net worth investors the asset manager said in a press release today.
The Fund is managed by Freddy Wong, (pictured below) who relocated from Hong Kong to Shanghai in March 2017. He has over 14 years of fixed income investment experience and joined FI in 2002 as a fixed income business analyst. Wong is supported by a team of credit analysts and fixed income traders in Shanghai all of whom were recruited locally in China.
«Undeniably, the RMB bond markets are the future of Asia’s bond markets and will play in global financial markets for many years to come,» said Wong.
Fidelity's Wholly Foreign-Owned Enterprise (WFOE) in Shanghai was established in September 2015. It was the first global asset manager to register with the Asset Management Association of China (AMAC) as a private fund management company in January 2017.
Overtaking Japan
«As over half of the onshore bonds do not have a rating by any ratings agencies, proprietary research is critical to finding investment opportunities in China. We have expanded our research capabilities to offer Chinese investors a fundamental research-based private fund,» said Daisy Ho, Managing Director, Asia ex Japan, FI.
The size of the onshore market is currently over 65 trillion Renminbi, and is expected to reach 100 trillion Renminbi by the year 2020, surpassing that of the Japanese market.
