Fidelity enters China private funds industry, readies products
The fund house is the first foreign firm to win approval to manufacture private funds for onshore institutional and high-net-worth clients. And further licences are in the pipeline.
Fidelity has become the first foreign asset manager to enter China’s $1 trillion private fund industry through a wholly-owned firm in Shanghai, and is working on its first strategies and identifying product trends.
Meanwhile, more firms are expected to get the green light from the regulator in the coming weeks to compete with peers in the mainland onshore private fund industry for the first time.
Fidelity’s onshore wholly foreign-owned enterprise (WFOE) – FIL Investment Manageme…
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