Fullerton Fund Management, part of Temasek, has obtained the green light from the Asset Management Association of China (AMAC) to offer onshore investment advisory services in China.
The services will be provided through Fullerton Investment Management (Shanghai), Fullerton’s wholly foreign-owned enterprise (WFOE).
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By GlobalDataFullerton Shanghai is said to be the first WFOE to secure this type of approval from the AMAC.
Launched in 2013, Fullerton Shanghai secured private fund management licence from the AMAC in September 2017.
Last February, the WFOE unveiled its debut onshore private fund in China.
The vehicle mainly offers exposure to China A stocks.
Fullerton Shanghai general manager Mark Li said: “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 has offices in Shanghai, London, Tokyo, Brunei, as well as Singapore that serves as its base.
It managed nearly S$47bn ($34.7bn) in assets at the end of February 2019.
The firm calls China its “long-term growth and strategic market”.
It first established its presence in the market with a foreign representative office in 2007 after running its first China strategy in 2006.
