(China Alert) AMAC registration: Dancing in the dark
-Fidelity International has registered its onshore investment platform with AMAC
-It is set to become the first global manager to enter the USD395bn private fund industry
Update: We have now entered the territory where global managers can run money in China on their own. The final gap has been bridged by Fidelity International registering its onshore investment management platform (IM WFOE) with the Asset Management Association of China (AMAC) on January 3, allowing it to access the private fund industry. Z-Ben Advisors notes that while this is good news, it is by no means the end of the road: a product has to be manufactured and launched within six months. The other managers with (or establishing) an IM WFOE look set to join. That being said, speed to market among these firms will vary. One thing is for sure, Z-Ben Advisors believes competitive benchmarking can now begin with how far Fidelity International can push the boundaries onshore.
Let’s talk about Fidelity International. …
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