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The Permission Will Allow the Firm to Offer an Onshore Version of its All Weather China Strategy
SHANGHAI, July 5, 2018 /PRNewswire/ -- Bridgewater Associates, a global leader in institutional portfolio management, today announced it has been granted a Private Securities Investment Fund Manager ("PFM") license from the Asset Management Association of China ("AMAC"). The license will allow the firm to develop and market investment products to investors in China.
Earlier this year, Bridgewater Associates launched an offshore Chinese version of its All Weather strategy, All Weather China, to provide foreign investors with access to Chinese assets through its multi-asset, pioneering risk parity approach. The firm's newly attained PFM license will now allow it to offer an onshore version of this strategy to qualified Chinese investors.
"We have an extensive history with China as a result of having been deeply involved in and studying the evolution of its economy and markets for more than 30 years," said David McCormick, co-Chief Executive Officer of Bridgewater Associates. "It is with this robust understanding that we recognize China is at a unique inflection point – a globally impactful economy with deepening capital markets which are lowly correlated to those in other developed economies, making Chinese assets a valuable source of diversification. Consistent with our goal of working with the largest pools of capital in the world and our long-term commitment to China, we look forward to helping investors on the mainland, as well as around the globe, access and navigate these markets which are quickly becoming among the most important publicly traded liquid markets in the world."
Bridgewater Associates has managed money for Chinese institutional investors in global markets since 1993. The firm has had an on-ground presence in the region for nearly a decade, opening its Beijing office in 2011. In 2016, the firm established operations for Bridgewater China Investment Management ("BCIM") in Shanghai and appointed Wang Yan as general manager of BCIM, leading a small investment team. With its PFM license, Bridgewater Associates plans to expand its presence across China.
CONTACT: Ryan FitzGibbon, rfitzgibbon@prosek.com
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