AXA Investment Managers has registered a private fund unit in Shanghai, according to a «Reuters» report.
French insurer AXA’s fund unit, AXA Investment Managers, will be able to launch fund products in China after it registered a wholly owned private fund management company in Shanghai this week, «Reuters» reported, citing filings with the Asset Management Association of China (AMAC) this week.
Lockdown Recovery
AMAC, which is supervised by China’s securities regulators, said recently it would be adjusting its processes to deal with Covid-related restrictions, with moves including accepting electronic signatures in place of company seals, according to the report.
Shanghai has moved new policies to boost the economy after a long Covid-related lockdown, including encouraging more foreign asset managers to set up cross-border funds, the report said.
Private equity players KKR and BlackRock also recently received approvals for their new local fund units to raise funds for overseas investments, the report said, citing filings.
