Global investment solutions firm Russell Investments has completed private fund management (PFM) registration in China to develop and sell funds investing in onshore assets to qualified investors. The firm’s Shanghai-based wholly foreign-owned enterprise (WFOE), which was established in 2015, completed the Asset Management Association of China’s registration process in mid-February as a private equity investment fund.
Russell Investments has completed registration in China to develop and sell funds investing in onshore assets to qualified investors.
Ying Tan, president and general manager for Russell Investments Management (Shanghai), says: “This is an important development to build upon our long-standing work in China. It opens the door to serve Chinese investors with domestically focused multi-manager fund-of-fund solutions designed to help achieve their desired investment goals.”
Based in Russell Investments’ Shanghai office, Ying leads the local team of professionals, who focus on combining their local market experience with the expertise of the global team of investment professionals. This includes the manager research team, which thoroughly monitors more than 14,000 investments products, and other investment management teams focused on additional capabilities that are highly recognised and valued worldwide.
“We appreciate this tremendous opportunity to extend our solutions-oriented investment expertise to benefit Chinese investors,” says CEO Michelle Seitz at Russell Investments. “Building on a decade of direct experience in China, we expect our next step with PFM registration will further establish our firm’s leadership position as a proven multi-manager solutions provider across the Asia-Pacific region.”
Seitz added the firm already successfully provides multi-asset, multi-manager solutions to both Chinese institutional clients seeking exposure to overseas assets and foreign investors seeking exposure to onshore Chinese equities (A-shares) and fixed-income securities.
In 2011, Russell Investments was part of an affiliation that launched the first manager-of-managers solution in China. Three years ago, Russell Investments signed a landmark agreement to provide support on the design of China Asset Management Co, Ltd. (China AMC) domestic fund-of-funds investment products, including guidance on factor exposures and diversification techniques.
Russell Investments expects to announce its first PFM product later this year.