Barings, one of the world's leading financial services firms, announced today that its Investment Management Wholly Foreign-Owned Enterprise (WFOE) in Shanghai has registered as a Private Fund Management company (PFM WFOE) with the Asset Management Association of China (AMAC).
The registration as PFM WFOE allows Barings to offer onshore investments in Fixed Income, Equities and Multi-Asset to qualified investors in China.
"PFM registration is an important milestone for Barings' business in China. We have a long history of building local businesses that rely on our in-market knowledge and global insights," said Duncan Robertson, head of Asia-Pacific at Barings. "We are excited for the opportunity to provide Chinese investors with onshore investments that leverage our well-resourced and long-standing global research capabilities."
Barings has been providing global investment solutions to Chinese investors since 2007."
"We have a long-term vision for building our onshore capability and establishing Barings as a leading asset manager in China," said Tom Finke, chairman and CEO of Barings. "The Asia-Pacific region, and China in particular, is a key growth market for our business. We are committed to expanding our presence and confident that our investment expertise and local market insights will present an attractive proposition to clients in China."
Barings has been providing global investment solutions to Chinese investors since beginning its Qualified Domestic Institutional Investor (QDII) business in 2007. The firm established its Shanghai-based Investment Management Wholly Foreign-Owned Enterprise (WFOE) in August 2018 and launched its first Qualified Domestic Limited Partnership (QDLP) product in January 2019.
The company has also been investing onshore for global investors through Qualified Foreign Institutional Investor (QFII), Renminbi Foreign Institutional Investor (RQFII) and Stock Connect Programs. Registered as PFM WFOE, Barings is authorized to launch onshore investment products investing in China securities markets and targeting qualified local investors.