Huaxia Bank forms JV fund management company

April 16, 2009 | BY

clpstaff &clp articles

Huaxia Bank has formed a Rmb250 million fund management company joint venture with London-based F&C Asset Management. The Beijing-based, Shanghai-listed…

Huaxia Bank has formed a Rmb250 million fund management company joint venture with London-based F&C Asset Management.

The Beijing-based, Shanghai-listed lender will own 70.5% of the venture with F&C holding 19.5%. The remaining share is expected to be held by a Chinese state-owned company.

According to Huaxia, the venture will be engaged in fundraising, fund sales, asset management and other businesses approved by the China Securities Regulatory Commission. The deal also required clearance from the China Banking Regulatory Commission.

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