Schroders Green-lighted for Fund Management Company in China
Schroders receives permission to establish wholly foreign-owned public fund management company in China
13 January 2023
Schroder Investment Management (China) Limited has received approval for the establishment of a wholly foreign-owned public fund management company in mainland China from the China Securities Regulatory Commission on 13 January 2023.
This further underscores Schroders’ commitment to serving onshore investors and marks another milestone in the Group’s business expansion in mainland China. In January 2022, Schroder BOCOM Wealth Management Co., Ltd received regulatory approval to commence business and received its operating license in February 2022.
As a global asset management company founded in 1804, Schroders appreciates the strategic importance of China. The pursuit of a wholly foreign-owned public fund management company is the latest evidence of the Group’s long-term commitment to China. Over 28 years since establishing its first representative office in Shanghai in 1994, Schroders has accumulated invaluable onshore experience in addressing the needs of institutional investors. It has also been providing individual investors with access to offshore investment capabilities through the QDII (Qualified Domestic Institutional Investor) and MRF (Mutual Recognition of Funds) schemes.
Lieven Debruyne, Global Head of Distribution, Schroders, commented:
“China has always been important in Schroders’ global strategy and we are delighted to receive regulatory permission to establish a wholly foreign-owned public fund management company. It is a key step in our overall expansion in the country and reinforces our confidence in continuing to scale up our business and investment presence in China.”
“Over many years we have been building an experienced, talented team of local professionals to better serve mainland China investors’ needs for diversified investment solutions. We have strong public markets and private assets capabilities in China, and we aim to provide holistic investment solutions to onshore and offshore investors in China.”
David Guo, CEO, China, Schroders, commented:
“We are delighted that Schroders has received regulatory approval to establish a wholly foreign-owned public fund management company in mainland China. We are committed to preparing for the establishment of this new company.”
“As the Chinese government continues to open up its financial market, we believe the China onshore retail fund and pension fund markets are ready for differentiated investment solutions from global investment managers. Schroders is committed to leverage its international investment experience to provide investors with innovative products and solutions that can help them achieve their long-term financial goals.”
For further information, please contact:
Hume Brophy (Hong Kong)
|Tel: +852 9028 3690|
Email: [email protected]
Schroder Investment Management (Hong Kong) Limited
|Tel: +852 2843 7582|
Email: [email protected]
Founded in 1804, Schroders is one of Europe’s largest independent investment management firms by assets under management. As at 30 June 2022, assets under management were £773.4 billion (€898.4 billion; US$939.2 billion). Schroders has continued to deliver strong financial results. It has a market capitalisation of circa £7.7 billion and employs over 5,800 people across 38 locations. Schroders offers innovative products and solutions across their five business areas of solutions; institutional; mutual funds; private assets & alternatives; and wealth management. Clients include insurance companies, pension schemes, sovereign wealth funds, endowments and foundations. They also manage assets for end clients as part of their relationships with distributors, financial advisers and online platforms.
Schroders’ strategic aims are to grow their asset management business, build closer relationships with end clients and expand their private assets and alternatives business. Schroders’ purpose is to provide excellent investment performance to clients through active management. The business channels capital into sustainable and durable businesses to accelerate positive change in the world. Schroders’ business philosophy is based on the belief that if we deliver for clients, we deliver for Shareholders and other stakeholders.
Further information about Schroders can be found at www.schroders.com.hk.