Fidelity International launched its first-ever mutual fund in mainland China just months after regulatory approval to operate its onshore business.
Fidelity International has launched its first mutual fund product following approval from the China Securities Regulatory Commission, according to a statement, which will be available to investors on April 3.
The fund is an equity solution managed by Lynda Zhou and invested in A-shares and H-shares. The strategy focuses on opportunities from China’s economic recovery including consumption and real estate-related sectors as well as industrials that are moving up the value chain.
Onshore Expansion
The product launch marks yet another milestone for Fidelity’s wholly foreign-owned enterprise in China which was approved to operate a mutual fund business by the CSRC in December 2022.
«Over the coming years, we plan to build out a diversified financial services company in China with a strong footprint in pensions and asset management and a mission to help investors achieve their long-term financial goals,» said Asia Pacific ex-Japan managing director Rajeev Mittal.
