Schroders Sets Up China's Fourth Foreign-Owned Asset Manager in Shanghai
Liao Shumin
DATE:  Jun 09 2023
/ SOURCE:  Yicai
Schroders Sets Up China's Fourth Foreign-Owned Asset Manager in Shanghai Schroders Sets Up China's Fourth Foreign-Owned Asset Manager in Shanghai

(Yicai Global) June 9 -- UK investment giant Schroders has established a public fund management unit in Shanghai, the fourth foreign-owned asset manager in the Chinese mainland after the country lifted restrictions on foreign ownership of such firms in April 2020.

Schroders Investment Management China was set up with a registered capital of CNY260 million (USD36.5 million) yesterday. It was approved in January and licensed by the China Securities Regulatory Commission on June 7.

International financial giants BlackRock, Fidelity Investments, and Neuberger Berman Group were the first three to set up asset management businesses in the Chinese mainland.

Schroders’ unit will integrate its multi-asset investment approach and active stock investment philosophy with local experience to launch local products with international characteristics, Securities Daily today reported Zhang Lan, general manager of the new fund Management company, as saying.

International business will also be an important strategic part of SIMC, hoping to contribute to the international development of China's fund industry, Zhang added.

London-based Schroders established BoCom Schroders with Bank of Communications in 2005 and launched Schroders BoCom Wealth Management in Shanghai in January last year.

Editor: Martin Kadiev

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Keywords:   Schroders,Shanghai