SINGAPORE - Temasek unit Fullerton Fund Management, on Tuesday (April 2) said its wholly foreign-owned enterprise (WFOE), Fullerton Investment Management (Shanghai) Co, has received approval to provide onshore investment advisory services in China.
According to Fullerton Fund Management, this is the first time the Asset Management Association of China (AMAC) has allowed a foreign fund manager's WFOE to conduct an onshore investment advisory business.
Fullerton Fund Management's CEO, Jenny Sofian 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 added: "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 Fullerton's years of investment experience across various asset classes presents a credible offer for Chinese investors."
Fullerton Fund Management Company is an Asia-based investment firm, with capabilities in equities, fixed income, multi-asset and alternatives, including private equity. As at end February 2019, Fullerton manages about S$47 billion in assets.
The firm is headquartered in Singapore, and has associated offices in Shanghai, London, Tokyo and Brunei.