Regulators have given Schroders the go-ahead to establish a wholly foreign-owned fund management company in mainland China.
The China Securities Regulatory Commission (CSRC) has approved Schroder Investment Management’s proposal to establish a wholly foreign-owned public fund management company, according to a statement.
«It is a key step in our overall expansion in the country and reinforces our confidence in continuing to scale up our business and investment presence in China,» said Lieven Debruyne, global head of distribution at Schroders.
Since 1994
Schroders first established its first China representative office in Shanghai in 1994 and has since been steadily expanding its presence in the mainland. In early 2022, regulators approved its wealth joint venture, Schroders BOCOM Wealth Management, to commence business.
«[A]s the Chinese government continues to open up its financial market, we believe the China onshore retail fund and pension fund markets are ready for differentiated investment solutions from global investment managers,» added David Guo, China chief executive at Schroders.
