The Shanghai units of hedge funds Winton Group and Bridgewater Associates have secured registration as private fund managers (PFM) from the Asset Management Association of China (AMAC).
The registration will enable the firms to develop onshore investment products for institutional and (high net worth investors in China. The latest move brings the total number of firms holding the registration to 13.
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As per the rule, both the firms have a deadline of six months to launch their first products.
Winton founder, CEO and co-CIO David Harding said: “Winton’s PFM registration allows us to continue building our business in the Chinese markets for the long term.
“We have been successfully advising Chinese investors in Chinese futures markets for eight years, and we look forward to developing our business in Chinese equities and futures markets in the years ahead.”
Winton began research on Chinese markets since 2008 and introduced its first strategy for Chinese futures markets in 2010. The company, which manages $30bn in assets, opened its Shanghai office in 2015.
Bridgewater manages around $160bn in assets across the globe and opened its Shanghai unit in 2016.
