JP Morgan AM’s new China WFOE seen as test case

After getting the green light to set up a wholly foreign-owned enterprise (WFOE) in Shanghai’s free trade zone (FTZ) late last month, JP Morgan Asset Management looks set to act as a test case. It is the first foreign firm with a Chinese fund management joint venture to also establish a mainland investment management WFOE.  The US fund house’s move may alleviate concerns that an investment management WFOE (IM WFOE) could be disruptive for a mainland joint venture in that the two c…