Templeton mulls China WFOE with eye on institutions
The fund house says a potential wholly foreign-owned enterprise could act as its institutional client servicing platform in mainland China, marking a step change from the representative office approach.
US fund house Franklin Templeton is considering setting up a wholly foreign-owned enterprise (WFOE) in mainland China in a bid to meet local institutional demand.
It is a further reflection of the evolution of foreign managers’ Greater China business models, in response to the pace of change and growth in the asset management industry.
David Chang, CEO and regional head for Greater China at Franklin Templeton Investments, outlined to AsianInvestor the potential benefits of a WFO…
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