Aberdeen Standard Investments announced Wednesday that its wholly foreign-owned enterprise in mainland China, Aberdeen Asset Management (Shanghai) Co., secured registration as a private securities investment fund manager with the quasi-official Asset Management Association of China.
With that registration, the local arm of the Edinburgh-based investment house has cleared the final hurdle to offering investment strategies managed onshore to qualified institutional and high-net-worth investors in China.
A spokeswoman for the firm said Aberdeen Standard Investments has six months from the date of the firm’s AMAC registration to launch its first local product.
She said in an email that the first offering is likely to be an equity strategy focused on bottom-up, fundamental research.
Amy Wang, Aberdeen Standard Investments’ head of China, in a news release said “our immediate priority is to expand our operations in Shanghai and build a robust portfolio management team to facilitate onshore investment and product development.”
The spokeswoman added that the firm will move to fill a number of "roles across various functions" in the Shanghai office, including portfolio management, investment execution and operations.