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International

Fullerton cleared to offer local strategies to qualified investors on China mainland

Singapore-based Fullerton Fund Management on Sept. 8 became the latest overseas managers to clear the final regulatory hurdle in China to offering locally manufactured investment products to institutional and high-net-worth investors on the mainland.

Fullerton, with S$17 billion ($12.5 billion) in assets under management announced Friday that its wholly foreign-owned enterprise, Fullerton Investment Management (Shanghai) Co. Ltd., had received its private fund management license from the Asset Management Association of China, allowing it develop onshore investment strategies for qualified Chinese investors.

Mark Li, general manager of Fullerton's Shanghai-based wholly foreign-owned enterprise, said in a news release that China will be Fullerton's first office outside of Singapore where the firm moves toward "full-scale localization."