Value Partners says its Shanghai subsidiary has gained a private fund management licence.
The licence allows the Shanghai entity to launch funds onshore in mainland China for eligible institutional and high-net-worth investors.
“We are excited to embark on this new phase of growth as we continue to strengthen our position as an investment solutions provider to investors in China and a China investments expert to investors elsewhere in the world,” said King Lun Au, chief executive.
The company says it is the first Hong Kong-based asset manager to receive the licence, which required it to register with the Asset Management Association of China as a private fund management firm.
Recently, Fullerton Fund Management claimed to be the first Asian fund house to gain a private fund management licence in China. A number of global firms such as Fidelity received licences earlier in the year.
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