Fidelity International's wholly owned asset management company in Shanghai became the first foreign-owned enterprise to launch a “private fund” for local high-net-worth and institutional investors, confirmed Jackson Lee, Fidelity's Shanghai-based country head, China.
Mr. Lee said in an interview that first fund will invest in China's 65 trillion renminbi ($9.4 trillion) onshore bond markets.
The investment team will be led by Freddy Wong, a 14-year Fidelity bond veteran who relocated to Shanghai in March from Hong Kong, supported by three locally recruited analysts.
That will effectively offer high-net-worth and institutional investors in China a unique mix of Fidelity's investment culture and local insights, said Mr. Lee.
