Foreign funds hope to offer investments in China

An increasing number of foreign asset management companies are applying to become privately offered fund managers in China, where they are expected to offer a greater global investment opportunities.

Swiss firm UBS AG, British alternative investment manager Man Group Plc and Singaporean investment management firm Fullerton Fund Management Co Ltd all received privately offered fund manager qualifications in the past three months to conduct securities investment in China.

In January, global asset management company Fidelity International announced that it was the first overseas asset management company to get the qualification. Daisy Ho, managing director at Fidelity International, said it was a milestone for the company, as it would enable Fidelity to expand its business in the world's second-largest economy.