(Yicai Global) Oct. 19 -- Neuberger Berman is getting ready to launch China’s second public mutual fund run by a foreign asset manager to replicate its success in the international markets, the chief of the US investment management giant’s Asia-Pacific division said.

Neuberger Berman looks forward to participating in China’s capital market as a public fund soon, Liu Song told Yicai Global. China’s continued opening up of its financial markets and a better business environment have boosted the New York-based company’s confidence.

Should all go smoothly, Neuberger Berman will be the second foreign asset manager after BlackRock to run a wholly-owned public fund company on the Chinese mainland. The firm secured the coveted license last year and has already undergone on-site inspections, Yicai Global learned.

As a key market for global capital, cultivating a local investment research team is of the utmost importance for Neuberger Berman, Liu said.

Neuberger Berman has always been at the forefront of the opening up of China’s financial sector to foreign investors. It entered the country in 2008 and also holds a Qualified Domestic Limited Partnership license, which allows it to gather assets in China and invest them overseas.

Founded in 1939, Neuberger Berman has offices in 25 countries and employs over 2,500 staff. It had USD460 billion of assets under management as of the end of last year, according to its latest annual report.

Editors: Dou Shicong, Kim Taylor