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Money Managers

Winton, Bridgewater gain Chinese onshore fund licenses

Winton Group and Bridgewater Associates each was registered with the Asset Association of China as a private securities investment fund manager on June 29, posts on the quasi-official organization's website showed.

The new licenses will permit the firms to manage assets in onshore vehicles for qualified institutional and high-net-worth investors in China.

Under Chinese regulations, each firm has six months from the date of registration to launch its first local product.

Winton Investment Management (Shanghai) has conducted research on Chinese markets since 2008 and first began advising Chinese investors on managing Chinese futures in 2010, said Dominic Elliott, a company spokesman.

The firm's more recently launched Diversified Program for Chinese investors also invests in long and short in Chinese equities, futures and forwards, Mr. Elliott said.

"Winton's PFM registration allows us to continue building our business in the Chinese markets for the long term," said David Harding, Winton's CEO and co-chief investment officer, in a news release.

Winton manages about $30 billion worldwide in managed futures strategies. Mr. Elliott could not immediately say how much of the firm's assets under management is run for Chinese investors.

Bridgewater (China) Investment Management Co. has managed assets for Chinese investors since 1993.

Last September, Bridgewater unveiled plans to create an onshore, all-Chinese version of its All Weather risk-parity strategy for Chinese-domiciled investors.

Ryan FitzGibbon, a Bridgewater spokeswoman, could not immediately provide comment on Bridgewater's new registration status.

Bridgewater managed a total of $164 billion in hedge fund and risk-parity strategies as of May 31.