MFS plans China office, but not MRF entry
The US fund house is likely to set up a wholly foreign-owned entity in China, but is still researching its entry options. It does not currently aim to use the mutual recognition scheme.
Boston-based MFS Investment Management intends to open an office in China – likely as a wholly foreign-owned enterprise (WFOE) – but has no plans to participate in the Hong Kong-China mutual recognition of funds scheme.
“We will start with a client-facing office [in China] and a WFOE is quite likely,” said Carol Geremia, co-head of global distribution at MFS, yesterday during a visit to Hong Kong. The team is "knee-deep in research" and will decide on its plan for China by the end…
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