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Chinese regulator licences Fidelity to create onshore funds for HNWs

Chris Hamblin, Editor, London, 4 January 2017

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The Asset Management Association of China has signed up Fidelity International as the first large foreign asset management firm to be allowed to manage funds there on behalf of Chinese HNWs.

The category of fund firm to which Fidelty now belongs, according to Reuters, is that of 'wholly foreign-owned entreprise.' The firm is apparently the first to register as a private fund management company.

Fidelity International Ltd is based in Bermuda.

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