BNY Mellon’s impending exit from its Chinese asset management joint venture after seven years marks another Sino-western marriage failure within the financial services sector.
At a deeper level, it may also signal foreign managers’ increasing frustration with China’s tough-to-take mutual fund market. The dearth of distribution channels and thin profit margins appear to be taking their toll on investment companies.
As a result, investment managers are instead looking to the wealth management market, where the brave are breaking new ground in search of market share by selling sophisticated, risk-adjusted products.
您已閱讀10%（617字），剩餘90%（5598字）包含更多重要資訊，訂閱以繼續探索完整內容，並享受更多專屬服務。