Long considered the holy grail for fund groups, the $4.2tn Chinese market is now in touching distance for international asset managers.
In less than four months, foreign investment houses will be able to own an onshore fund management company outright for the first time, allowing them to access China’s vast retail market without the help of a local partner.
The opening of China’s fund market is a pivotal moment for fund managers eager to capture a slice of one of the largest opportunities globally. With a projected annual growth rate of 13 per cent, China is set to overtake the UK as the world’s second-largest fund management hub after the US next year, according to Casey Quirk.
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