Fullerton’s entity granted fund management licence in China
Fullerton Fund Management’s wholly foreign-owned enterprise, Fullerton Investment Management (Shanghai), has been granted its private fund management (PFM) licence from the Asset Management Association of China (AMAC).
With the PFM approval, Fullerton said it would be able to offer onshore investment products to institutional and high net worth investors in China.
Fullerton, which first established its China footprint in 2007 with a representative office housing onshore equity analysts, also increased its staff in China from six in 2016 to 11.
The company said it planned to further invest in the local office and grow the number of employees to cover investment, sales, trading, compliance and management functions.
Fullerton Investment management’s general manager, Mark Li, said: “Having obtained the PFM qualification, we are focused on expanding our Chinese operations.
“As one of the main drivers of Fullerton’s growth strategy, China is the first office outside of Singapore where Fullerton is moving towards full-scale localisation.
“We are actively engaging local investors and distributors, as we prepare to offer private funds to qualified individual and institutional investors.”
Fullerton is a wholly-owned subsidiary of Temasek Holdings with assets under management (AUM) of SGD17 billion.
AUTHOR
Oksana Patron
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