Man Group, the world’s largest publicly-traded hedge fund, has been granted one of the first licenses in China for a foreign active investment manager to develop onshore funds in the country.
The Asset Management Association of China registered the firm as a private securities investment fund manager, allowing Man to develop products for Chinese investors.
The firm, which manages about $96bn, opened an office in China in 2012, and in the following year, they were granted a quota to raise funds from qualified Chinese investors for overseas investment.
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