Foreign institutions applying for a mutual fund management company (FMC) licence face far more stringent requirements than private fund management permissions.
As its institutional asset base in Asia grows, the Scottish fund house has located a dealing duo in the region after launching an onshore China business late last year.
The Dutch retirement asset manager is hiring investment staff for its first branches in Beijing and Shanghai in a pioneering move as it ramps up its expansion drive in Asia.
The Scottish fund house has put a general manager and investment director in Shanghai, as well as a new Asia intermediaries executive in Hong Kong.
The US fund house has poached a senior executive from its rival in Shanghai as foreign firms continue their battle for talent to expand their capabilities in China.
Online sales of funds in China are disrupting the dominance of commercial bank distribution but the latest tie-up between two giant firms has limited scope, say some analysts.