A subsidiary of the Singapore state wealth fund has gained valuable access to a key Chinese segment.
Fullerton Fund Management's foreign-owned enterprise Fullerton Investment Management in Shanghai received its private fund management approval from the Asset Management Association of China.
The company first established its China footprint in 2007, with a representative office housing onshore equity analysts. With the approval, Fullerton is now able to offer onshore investment products to institutional and high net worth investors in China.
Asian First
The firm has expanded its China team over the past year, growing from six in 2016 to its current strength of 11 staff. There are plans to further invest in the local office and grow the number of employees to cover investment, sales, trading, compliance and management functions.
«We are actively engaging local investors and distributors, as we prepare to offer private funds to qualified individual and institutional investors,» said Mark Li, General Manager of Fullerton Investment Management (Shanghai).
Fullerton is the first Asian fund house to successfully register its foreign-owned enterprise as a private fund management company.
