The rolling out of cross-border schemes and the opening up of its asset management industry have enabled overseas money managers to tap into the China market, says Cerulli.

The rolling out of cross-border schemes and the opening up of its asset management industry have enabled overseas money managers to tap into the China market, says Cerulli.
The much-awaited implementation details of the cross-boundary Wealth Management Connect (WMC) Pilot Scheme in the Guangdong- Hong Kong- Macao Greater Bay Area have been announced.
Most funds will have a RMB share class when they are offered through the Wealth Management Connect (WMC) scheme.
The Hong Kong-based wealth manager has joined forces with US firms Leo Group and BFT Financial Group.
The potential of the Greater Bay Area and Hong Kong’s traditional role as a financial centre should spur the development of family offices, according to Family Office Association Hong Kong.
68% of firms in the sector said they will benefit from the launch of the scheme.
The Chinese, Hong Kong and Macau financial regulators have agreed supervisory, enforcement and liaison arrangements for the Wealth Management Connect Pilot Scheme in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
The implementation details of wealth management connect (WMC), including the scope of eligible investment products, will be announced later.
Part of the Mark Allen Group.