The U.K.-based financial software company is eyeing China's growing asset management industry, and is partnering Hundsun Technologies to develop a local version of its investment management platform.
The Chinese version of «Fusion Invest» will be tailored for China’s regulatory and local requirements and be available to customers in Mainland China, Hong Kong, Taiwan and Macau, Finastra announced on Monday.
Hundsun, which currently has 80 percent of the local investment management software market share, will license the platform directly to over 100 buy-side institutions. This will allow asset managers to take advantage of global asset class coverage, highly automated workflows, consistent data, and accurate risk analytics.
«China’s regulators have taken numerous steps in recent years to open up the asset management industry to international participation. Combined with the country’s rapid growth in personal wealth, it offers enormous potential,» Eric Duffaut, Finastra president and global head of field and marketing, said in the announcement.
Industry Growth
As China's opens its financial market to overseas players, its asset management market is expected to more than double by 2025, Finastra said, citing a BCG report.
China's assets under management is expected to increase at a compound annual growth rate of 11 to 15 percent between 2018 and 2025, supported by significant expansion in the institutional segment, compared to 6 percent globally.
