China Asset Management Corp has hired Anthony Ho to become its new deputy chief executive, Asian Investor reports.

Mr Ho was previously the head of institutional management at Fidelity Investments. He confirmed his departure at the sidelines of an event recently sponsored by the news service.

In his new role, Mr Ho will be tasked to help develop a new product that would complement ChinaAMC's international strategy. He replaces Cheng Haiyong, who has been elevated to head of international investments of the company's Hong Kong qualified domestic institutional investor business.

ChinaAMC has been stepping up its presence in the QDII market in a bid to attract new foreign investment. With over 230 billion renminbi ($33.6 billion) worth of assets under management, it is currently the largest fund management company in China.