Man Group Receives Approval for Private Fund Management License in China

Sep 7 2017 | 5:16pm ET

A unit of global hedge fund manager Man Group has received approval from Chinese regulators to operate as a private securities investment fund manager in Mainland China.

The company’s Man Investment Management (Shanghai) Co, Ltd. subsidiary, a wholly foreign owned enterprise under Chinese law, received a private securities investment fund manager license and successfully registered with the Asset Management Association of China, according to a statement. 

Man first opened a China office in 2012. In 2013, the company was in the first cohort of alternative investment managers granted a quota under the Qualified Domestic Limited Partnership (QDLP) scheme to raise funds for overseas investment from qualified Chinese investors. 

“The PFM license is the next stage of Man Group’s long-term strategy to build our presence in the world’s second largest economy,” said Luke Ellis, Man Group CEO, in the statement. “We strongly believe that there has been a growing appetite from the Chinese institutional investment community for the products we will offer under the new license, and we look forward to continuing to develop our business in the region.”

London-based Man Group, which traces its heritage back to the 1783 founding of a sugar coop and brokerage company by James Man, manages nearly $96 billion through its five investment management businesses: Man AHL; Man Numeric; Man GLG; Man FRM and Man Global Private Markets. It is the largest listed hedge fund manager in the world. 

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