China approves Morgan Stanley as actual controller of Chinese JV

MORGAN Stanley has received China securities regulator’s approval to be the actual controller of its Chinese fund management firm Morgan Stanley Huaxin Fund Management (MSHF), the regulator said on Friday (Feb 3).

China has also given approval for Morgan Stanley International Holdings to invest 127.5 million yuan (S$24.8 million) in the fund management firm, accounting for a 51 per cent stake of its registered capital, the China Securities Regulatory Commission said.

The Shenzhen headquartered MSHF was jointly set up by Morgan Stanley and its partner Huaxin Securities in 2008, according to the company’s official site. REUTERS