Aberdeen Standard Investments (ASI) has launched its first onshore private fund in China and successfully completed the initial fund offering to Chinese investors.
According to a statement issued yesterday by ASI, the China A-share fund will be available to UHNW and company investors in mainland China. It is managed by a Shanghai-based investment team, with support from the China and Asian equities teams in Hong Kong and Singapore.
said Amy Wang, head of China at ASI, said: “China’s continued market liberalization is set to create enormous new opportunities for both global and domestic investors. The launch paves the way for our long-term growth. In tandem with the development of the local asset management industry, we are fully committed to expanding our onshore business.”
In a statement, Nicholas Yeo, head of China equities: “As the progressive financial reforms continue to improve the accessibility and liquidity of the domestic market, it is presenting active managers like us with new opportunities.”
The China A-share fund will have an initial focus on consumer and services sector, with investments in 30 A-shares.