Baillie Gifford becomes the latest foreign asset manager seeking to capitalize on the estimated $2.6 trillion mutual fund market in mainland China.
The Edinburgh-headquartered asset manager, which has around £45 billion ($57.2 billion) of investments in more than 100 Chinese companies, has opened a new office in Shanghai.
John MacDougall, a partner at the firm, has relocated from Edinburgh to Shanghai.
«We have been investing for our clients in some of the most inspiring and influential Chinese companies for decades, providing long-term capital that enables them to innovate and grow for many years,» MacDougall said. «That innovation is accelerating as Chinese entrepreneurs harness technology to create new business models, products and services for millions across China, transforming entire industries.»
Hiring Plans
Also being relocated are Chongqing native Linda Lin, who joins the Shanghai office as its head of investment research and Hubei native Rio Tu, after six and five years with Baillie Gifford in Edinburgh, respectively.
In addition to internal transfers, Baillie Gifford is also hiring local talent for roles in operations, investment research, trading, compliance, business development and marketing.
Various global asset managers are seeking to gain a foothold in the historic opening of China’s mutual fund industry. BlackRock, Fidelity International and Neuberger Berman have been amongst the foreign players applying to set up operations in the mainland market.
