Regulators have granted Schroders a license to start operating as a wholly-owned fund management firm in China.
The China Securities Regulatory Commission (CSRC) has granted Schroders a license to begin operations as a wholly foreign-owned public fund management company in the mainland, according to a statement.
«The combination of the market’s future growth prospects and Schroders’ comprehensive market access offers an advantage in stimulating significant revenue growth in the medium to long-term,» the London-headquartered asset manager said.
Since 1994
Schroders first established its presence in China with a Shanghai representative office in 1994. It has since set up two joint ventures with Bank of Communications including BOCOM Schroder Fund Management in 2005 and Schroder BOCOM Wealth Management in 2022.
«This is a significant moment and of strategic importance to Schroders. It further strengthens our investment and service capabilities in China, allowing us to take advantage of the market growth in China and positioning us well to deliver strong returns in the medium to long-term,» said Schroders group chief executive Peter Harrison.
