BlackRock Inc. became the first foreign asset manager allowed to start a wholly owned mutual fund business in China, a step toward winning a slice of one of the fastest-growing wealth markets.
The world’s largest asset manager was granted a licence from the China Securities Regulatory Commission to start selling onshore investment products and solutions to Chinese investors, the company said in a statement on Friday.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!