The French group’s reported move to exit its mainland fund joint venture comes as other foreign shareholders review their onshore build-outs amid rising China risks.
The Chinese firm posted faster AUM growth than any other fund house in Asia last year, with a fourfold increase overall and a 13-fold rise in its flagship money market fund. It has several launches planned.
China-listed money market exchange-traded funds are attracting huge inflows as investors seek safe havens. Fortune SG AM has been among the biggest beneficiaries.
The Chinese joint-venture fund house expects to see growing demand from mainland investors in long/short products and is building its infrastructure to that end.