The joint-venture fund company between Principal and China Construction Bank is looking to target China's pension fund market with upcoming fund of funds.
The mainland securities regulator has given approval for asset managers to manufacture funds of funds, and some firms have been working towards this in recent months.
As Natixis Global Asset Management expands its range of retail Ucits funds in Asia, the firm points to increased interest in alternative funds with daily liquidity. Others confirm this trend.
Following its purchase of Daiwa Securities' hedge fund administration unit, Sumitomo Mitsui Trust Bank is building its fund servicing business into a global platform.