French fund manager AXA Investment Management is set to launch a private fund unit on the Chinese mainland after registering a wholly-owned private fund management company in Shanghai.
The filing with the Asset Management Association of China (AMAC) was reported by Reuters.
It comes just as Shanghai emerges from a two month lockdown following a rise in Covid-19 cases.
The Shanghai government has announced a series of measures designed to reinvigorate the market, including policies designed to encourage more overseas asset managers to set up cross-border funds.
Meanwhile, AMAC has also stated that it would amend its filing and registration process to help businesses deal with Covid-19 restrictions still in place.
In addition to the registered private funds unit, AXA IM also owns a life insurance venture and a mutual fund venture in mainland China.
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