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Fullerton Fund Management unit receives private fund management licence in China
FULLERTON Fund Management's wholly foreign-owned enterprise (WFOE), Fullerton Investment Management (Shanghai) Co Ltd, has received its private fund management (PFM) approval from the Asset Management Association of China (AMAC), it said on Friday.
With the PFM approval, Fullerton is now able to offer onshore investment products to institutional and high net worth investors in China.
Fullerton is the first Asian fund house to successfully register its WFOE with the AMAC as a private fund management company. The company first established its China footprint in 2007, with a representative office housing onshore equity analysts.
Fullerton has expanded its award-winning China team over the past year, growing from six in 2016 to its current strength of 11 employees. There are plans to further invest in the local office and grow the number of employees to cover investment, sales, trading, compliance and management functions, it said.
Fullerton is a wholly owned subsidiary of Temasek Holdings with an asset under management (AUM) of S$17 billion, as at June 30, 2017.