(China Alert) WFOE structure: the need to look forward
- Asset Management Platform, Fund Manager, JV, WFOE
·UBP has restructured its JV asset management platform
·This is a stark contrast to Aberdeen’s innovative WFOE
·Ownership structure will dictate future direction and opportunities
Update: In the same month that Aberdeen AM has announced its innovative WFOE, Union Bancaire Privée (UBP) has altered the ownership structure of its existing JV management platform. This presents the perfect opportunity to compare and contrast how to go about structuring asset management platforms in China. There is a sharp distinction to be made between Aberdeen and UBP’s approach: future directionality. Aberdeen has the set the wheels in motion for complete control of a domestic mutual fund manager. Consequently, China’s competitive landscape may be entirely transformed within the next 36 months.
Earlier this year, UBP entered into a private fund management (PFM) JV. This approach was notably different because…..
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