The fund may invest in other products managed by the firm.
Natixis affiliates, Fullerton Fund Management and HSBC have products in the regulatory pipeline.
The previous general manager has left the firm.
Among them, Nomura AM has had its first onshore fund authorised by the Asset Management Association of China (Amac).
The firm hopes a home bias strategy will differentiate its new multi-asset fund series from the flood of peer funds.
The Singapore-headquartered firm is looking at adding more investment staff and obtaining a QDLP licence.
Global asset managers are setting up in China, but lack of an onshore track record and brand recognition are among the challenges they face with onshore distribution, according to Aberdeen Standard and Fullerton.
Ex-Fullerton CEO reappears at Franklin Templeton; BNPP AM creates APAC chief marketing role; Robeco hires Blackrock’s APAC head of PB and wealth distribution; US-based Metlife receives AM licence in Hong Kong, while Barings Investment Advisers loses it; “millennial fund investors not unique”, warns Cerulli; and more…
Coordinating with the head office, keeping up with local regulations, branding and distribution are top challenges when establishing an investment management wholly foreign owned enterprise (WFOE) with a private fund management (PFM) licence in China, according to industry sources.
The firm intends to launch its first onshore fund and apply for a qualified domestic limited partnership (QDLP) licence, according to Mark Li, Shanghai-based general manager and head of China sales at Fullerton Investment Management (Shanghai).