Foreign AMCs see opportunity in China

The relatively higher volatility in the A-share market this year has not hampered international asset managers' expansion in China's capital market.

New York-based asset manager Neuberger Berman said in a news release on Monday that it has received approval from the China Securities Regulatory Commission, the country's top bourse watchdog, to begin managing local currency-denominated mutual funds for domestic Chinese clients.

With the approval granted by the CSRC in September 2021, Neuberger Berman became the second foreign institution to set up a wholly owned mutual fund business in China.