Eastspring Investments establishes investment management wholly-foreign owned enterprise in Shanghai.
Eastspring has established an investment management wholly-foreign owned enterprise (IM WFOE) in China through a Hong Kong entity.
According to Guy Strapp, Chief Executive, Eastspring, this is a major milestone in Eastspring’s China strategy. “As a leading Asia-based asset manager, China represents a significant growth opportunity for us. Our IM WFOE will enable us to establish an on-the-ground presence in mainland China and complements our existing joint venture partnership with CITIC-Prudential Fund Management Company."
“This reaffirms our commitment to this important market, providing us with a foundation for the long-term development of our asset management business and enhancing our ability to serve professional investors, both in China and globally,” Mr Strapp said.
In making today’s announcement, Mr Strapp noted, with the approval, we are making the necessary arrangements before Eastspring is open for business, including building a comprehensive Shanghai-based team.
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