SINGAPORE, April 3, 2019 /PRNewswire/ -- Fullerton Fund Management ("Fullerton") announced its wholly foreign-owned enterprise (WFOE), Fullerton Investment Management (Shanghai) Co., Ltd. ("Fullerton Shanghai"), has successfully received the approval to provide onshore investment advisory services in China.
This is the first time that the Asset Management Association of China ("AMAC") has allowed a foreign fund manager's WFOE to conduct onshore investment advisory business and Fullerton Shanghai is proud to be the first Asian fund house to achieve this qualification.
Jenny Sofian, Fullerton's Chief Executive Officer, said, "We are delighted to have received the onshore investment advisory qualification from AMAC. This is recognition of Fullerton's commitment to China, as well as the strength of our investment capabilities. With the approval, we look forward to extending our expertise to a wider range of investors, accelerating our business growth and deepening our presence in this important market."
Mark Li, General Manager of Fullerton Shanghai, said, "Fullerton Shanghai's latest achievement is truly a milestone in our China journey. With this investment advisory approval, we look to enhance the value proposition we offer to onshore investors, particularly institutions. Alongside a strengthened team locally, our ability to leverage on Fullerton's years of investment experience across various asset classes presents a credible offer for Chinese investors."
Fullerton recently celebrated its 15th year of delivering excellence in investment. China is a long-term growth and strategic market for Fullerton -- the firm managed its first China strategy (QFII) in 2006 and opened its first foreign representative office in China in 2007. It has steadily built a strong on-the-ground presence that understands the needs of local investors and adapts to the evolution of the Chinese capital markets quickly.
The WFOE, Fullerton Shanghai, was established in December 2013 and successfully obtained its private fund management approval from the AMAC in September 2017. Fullerton Shanghai then launched its first onshore private fund product in February 2018.
Note to Editor:
Fullerton Fund Management Company Ltd ("Fullerton") is an Asia-based investment specialist, with capabilities that span equities, fixed income, multi-asset and alternatives, including private equity.
Prior to its establishment in 2003, Fullerton's investment team operated as the internal fund management division within Temasek, a global investment company headquartered in Singapore. In November 2017, Fullerton announced a strategic partnership with NTUC Income, a leading Singapore insurer, to manage a portfolio of its insurance assets worth SGD23 billion. In 2018, the transaction was successfully completed and assets were integrated. As at end February 2019, Fullerton manages approximately SGD47 billion in assets.
Fullerton provides investment solutions for institutions such as government agencies, pension plans, insurance companies, endowments and sovereign wealth, as well as for private wealth and the retail segment. With 15 years of experience in Asian financial markets, Fullerton builds on its heritage to provide clients with investment solutions that are long term, research-based and conviction-led.
Headquartered in Singapore, Fullerton also has associated offices in Shanghai, London, Tokyo and Brunei. Fullerton is licensed under the Securities and Futures Act and regulated by the Monetary Authority of Singapore.
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