Following the registration of UBS Asset Management (Shanghai) Limited in July with the Asset Management Association of China (“AMAC”) as the second wholly foreign owned enterprises private securities investment fund manager (“WFOE PFM”), AMAC registered two more companies on 7 September 2017: Man Investment Management (Shanghai) Co., Ltd. and Fullerton Investment Management (Shanghai) Co., Ltd. To date, there are a total of four WFOE PFMs that have been registered.
The successful registration of Man and Fullerton with AMAC demonstrates the regulator’s determination to open the financial markets and the prudential measures to push forward the relevant WFOE PFM registration work. It is a great honor for JunHe to assist all three companies – i.e., UBS, Man and Fullerton – in completing the full application process and successfully obtaining registration. We are confident we will see more and more interest and growing commitment to the China market by global asset managers. It is anticipated that more top-tier foreign institutions will apply and obtain the PFM registration in the near future.