Gilbert sees 'vast growth potential'
China milestone for Aberdeen Standard Investments
Its wholly foreign-owned enterprise, Aberdeen Asset Management (Shanghai), has secured registration as a private securities investment fund manager with the Asset Management Association of China (AMAC).
The company said it marks a significant milestone in the firm’s growth strategy, reinforcing its commitment to build a long-term business in China.
The new private securities fund management qualification enables it to offer onshore private securities investment funds to qualified institutional and high net worth investors in China.
Aberdeen Standard Investments has had a presence in China for more than 15 years, and provides offshore international investment solutions to Chinese institutional investors.
In 2015 Aberdeen Asset Management was one of the first foreign asset management companies to establish a wholly foreign-owned enterprise in Shanghai eligible for undertaking onshore investment management.
Martin Gilbert, co-chief executive of Standard Life Aberdeen, said: “China is a strategic focus for our global business, with a fast-growing economy and vast growth potential and opportunities.
“As the Chinese government continues to reform the financial services industry, we are excited to expand our onshore business to tap into the long-term investment opportunities.
“Building on our market-leading global capabilities, knowledge and expertise of international and domestic markets, we are committed to bringing diversified solutions to meet the evolving investment needs of Chinese investors.
“As we embark on this new chapter in our growth journey, we look to further support China’s effort in the liberalisation of its capital markets.”
Amy Wang, head of China, Aberdeen Standard Investments, added: “The registration allows us to deliver a stronger proposition and client offering to investors in China and we appreciate the continued support from the China Securities Regulatory Commission and the AMAC.
“We are dedicated to developing a leading fund management platform, investing more resource on the ground and contributing to the sustainable development of China’s asset management industry.
“Leveraging our strong Asia Pacific investment franchise, our immediate priority is to expand our operations in Shanghai and build a robust portfolio management team to facilitate onshore investment and product development.”