SSgA's mooted China exit flags wider tensions
State Street Global Advisors’ reported move to exit its mainland joint venture is seen as highlighting a difference in approach to risk control between the US firm and its Chinese partner.
Another day, another fund house looks to ditch its joint-venture in China. Such relationships often prove difficult – particularly for the offshore partner – and tensions seem to be increasingly coming to a head.
The latest example to emerge is State Street Global Advisors (SSgA), which is reportedly seeking to offload its 49% stake in SSgA Fund, just a year after it was set up. The US firm is said to be waiting for a suitable price and may sell to its Chinese partner, Zhongrong T…
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