China Life Franklin boosts third-party focus

China Life Franklin Asset Management (CLF AM) in Hong Kong is increasingly focusing on managing segregated accounts for high-net-worth and institutional clients via its in-house sales team. Its third-party business has risen almost 20-fold to nearly HK$10 billion ($1.25 billion) from HK$500 million this year. The firm is a joint venture of China Life Asset Management and US-based Franklin Templeton Investments and has HK$105 billion in AUM. There are two main reasons for its str…