Hague-headquartered Aegon Asset Management is the latest global fund house to deepen its presence in mainland China with a new approval for it to market funds onshore.
The Asset Management Association of China has approved Aegon Asset Management’s (AM) Shanghai-based unit to become a Qualified Domestic Limited Partner (QDLP) manager which will allow it to market its funds to Chinese institutions and high net worth investors.
«We look forward to bringing our global investment capabilities to the Chinese marketplace as well as building on our strong, existing Chinese presence through our fund management [joint venture Aegon-Industrial Fund Management Company (AIFMC)],» said Aegon AM chief executive Bas NieuweWeme.
Sustainable Investing
In line with broader industry trends, the first product Aegon AM will introduce to the mainland market will be a global sustainable equity fund.
«There is a strong appetite for investment diversification in China and the AMAC registration means we are able to bring some of our best global strategies to qualified Chinese investors, on the ground here in China,» said Asia regional head Mabel Cho.
Aegon first entered the Chinese market in 2008 via a joint venture called Aegon-Industrial Fund Management Company which has more than US$81.6 billion in assets under management as of June 30.
