The firm will be able to serve domestic qualified investors and expects to launch its first onshore product later this year.
Seattle-based investment firm Russell Investments said last week that it has received a private fund management (PFM) license in China and will develop and sell funds investing in onshore assets to qualified investors.
«It opens the door to serve Chinese investors with domestically focused multi-manager fund-of-fund solutions designed to help achieve their desired investment goals,» Ying Tan, president and general manager for Russell Investments Management (Shanghai), said in a statement posted on its website.
The firm established its wholly foreign-owned enterprise in China in 2015, which provides multi-asset, multi-manager solutions to both Chinese institutional clients seeking exposure to overseas assets and foreign investors seeking exposure to onshore Chinese equities (A-shares) and fixed-income securities.
Leading Global Adviser
As of end-2019, Russell Investments had $307.4 billion in assets under management and $2.4 trillion in assets under advisement (as of end-June 2019) for clients in 32 countries, according to the firm.
Headquartered in Seattle, Washington, its reach extends to 21 offices globally.
