Morgan Stanley Investment Management has received approval from the Chinese financial regulator for full ownership of its mainland venture.
The China Securities Regulatory Commission has approved Morgan Stanley Investment Management (IM) to take a full controlling stake in its mainland venture Morgan Stanley Huaxin Funds, according to a statement.
Morgan Stanley IM will increase its stake from 49 percent to 100 percent upon completion of the transaction which is subject to business registration and other procedures required by Chinese regulatory entities.
Firm History
Shenzhen-headquartered Morgan Stanley Huaxin Funds became a joint venture in June 2008 and has since established over a decade of experience investing in China’s domestic market. It provides diversified asset management services to retail and institutional clients via mutual funds and segregated management accounts, across fixed income, active equity, quantitative equity, and multi-asset investments.
«With high levels of wealth creation, growing demand for financial advice, and with the launch of a private pension scheme, we see long-term opportunities in China’s asset management industry,» said Morgan Stanley Asia CEO Gokul Laroia.
