Vanguard Plants Flag in Shanghai
While Canadian investment managers such as Manulife Asset Management prefer distribution partnerships when entering China, other fund managers are making moves to go at it alone. Manulife Asset Management and China Life just inked an investment partnership. Index giant Vanguard Group is the biggest mutual fund company in the world and has opened a subsidiary in Shanghai’s free trade zone, in the Lujiazui area. Vanguard’s wholly foreign-owned enterprise (WFOE) is called Vanguard Investment Management (Shanghai) Ltd. In November 2016, Vanguard got a WFOE license from the China Securities Regulatory Commission (CSRC).
Vanguard is banking on reaching Chinese retail investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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