IFA entries set to alter China's distribution landscape
The nation's securities regulator has granted mutual fund distribution licences to four independent financial advisers, which will aim to gain market share by providing professional fund services.
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China’s securities regulator has awarded third-party mutual fund distribution licences to four independent financial advisers (IFAs) – almost eight years after it granted its first such permit.
The move to hand approvals to East Money Investment Consulting, Howbuy Fund Research, Noah Holdings and Zhonglu Investment Consulting could finally provide a release valve to China’s pent-up distribution system, suggests consultancy Z-Ben Advisors.
The firm notes that poor returns and hig…
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