T Rowe Price’s head of international equities and chief investment officer also discusses the firm’s plans for its China WFOE.
The Dutch fund manager plans to use the facility to promote sustainable investing in China.
It is also the only foreign asset manager that set up a WFOE in Tianjin, a city near Beijing.
Around 30 foreign managers have been granted the PFM qualification.
Metori Capital is the first foreign fund manager to set up a WFOE in Zhuhai, which is in the Greater Bay Area. Separately, Oaktree Capital has also received the PFM qualification.
The Montreal-headquartered asset and wealth manager also directly holds a 13.9% stake in China Asset Management.
The Hong Kong-based fixed income specialist has twelve months to launch an onshore China fund.
The New York-based quant fund manager is ready for its first onshore fund through the private fund management (PFM) channel.
Foreign asset managers with private fund management (PFM) licences are planning to convert their licences to sell mutual funds to domestic retail investors.
The firm expects to launch a second fund of funds onshore in China.