News

BlackRock deregisters Shanghai unit ahead of mutual fund launch

BlackRock branchBlackRock has shifted focus from its private fund unit in Shanghai to the planned launch of its mutual fund business in China. According to data from the Asset Management Association of China (Amac), BlackRock has deregistered the wholly foreign-owned enterprise BlackRock Investment Management (Shanghai). The private funds business was launched in 2017 as a way for BlackRock to roll out its regional funds across China. However, it has now been deemed ‘non-essential’ following the decision of Chinese authorities to fully open up its onshore mutual funds industry to foreign managers in April 2020. BlackRock was the first global manager to be awarded such a licence in August 2020, but the business has yet to launch despite originally being originally given a six month deadline by Chinese regulators. Other global managers that have since applied for a licence include Neuberger Berman, Schroders, AllianceBernstein and Fidelity International. Vanguard had also applied for a mutual fund licence but in March suspended the process in order to focus on its joint venture with e-commerce firm Ant Group. Vanguard cited the “crowded mutual fund market” as the reason for its decision. ©2021 funds global asia

Executive Interviews

Executive interview: PGIM CEO on where the ESG flowers should bloom

Sep 27, 2021

David Hunt, president and chief executive of PGIM, tells Romil Patel about leading a top 10 global asset manager in times where “empowering and encouraging the kind of investment decisions as...

Executive interview: Nicolas Moreau’s orderly transition

Jul 12, 2021

Nicolas Moreau, CEO of HSBC Asset Management, is moving to Asia as the firm looks to connect more directly with the region’s growth story. ESG is also a key focus – including the ‘just’ carbon...

Roundtables

Roundtable: Singapore comes of age as an Asian ESG hub

Dec 01, 2021

Strong ESG credentials strengthen the case for Singapore as a leader in Asia of the post-Covid recovery. Our panel discusses the risks and opportunities.

Roundtable: How well geared are Japanese assets for a new world?

Jul 12, 2021

As we prepare to emerge from Covid, experts look at overcoming demographic issues through a combination of good tech and corporate governance, improving productivity and meeting an ambitious government carbon emissions reduction target. Chaired by Romil Patel.