Schroders receives permission to establish wholly foreign-owned public fund management company in China
Schroder Investment Management (China) Limited 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.”