Financial firms are expected to take advantage of a rule that lets foreign companies run wholly owned asset managers in China, rather than hold a minority stake in a joint venture. Companies that have established wholly owned foreign enterprises, one of the first steps toward applying for a private fund manager’s license in China, include Aberdeen Asset Management, BlackRock, BNP Paribas Investment Partners, Fidelity International, JPMorgan Asset Management and UBS Asset Management.
Pensions & Investments (free access for SmartBrief readers) (17 Oct.)
