Fidelity launches its first fund in China

Global asset management company targets large institutional investors

Global asset management company Fidelity International will launch its first investment product in China within six months, after it has become the first foreign asset manager to gain a license to issue private funds in the country that can invest in Chinese securities markets, a senior executive of the fund said on Thursday.

The company intends to offer its Chinese clients, mainly large institutional investors, such as insurers and pension funds as well as high net worth individuals, a long-term and stable solution to manage their assets onshore, said Daisy Ho, managing director for Asia-Pacific excluding Japan at Fidelity International.