Fullerton Investment Management (Shanghai) is planning to grow its 11-people team in China with new hires this year, Citywire Asia can reveal.
General manager Mark Li said the firm will employ two new staff members to fill key positions in compliance and trading.
The key challenge, however, Li added is to find the right people. ‘This is not a challenge only for us, but it is also a challenge for every foreign asset manager operating in China.
‘We would expect our new hires have exposure and experience in multi-national companies, and have a high individual proficiency level. Additionally, they should have a vision, which should align with our corporate development strategy,' he said.
Besides the challenge of establishing a local team in China, Li finds collaborating with Chinese securities companies also demanding. Fullerton is now in the process of choosing a security firm to help with its first private equity fund launch at the end of the year.
‘We will possibly find up to 200 clients through our local security partner for this fund. The local security house has a strong private-investor base, which is essential for a foreign asset manager raising private funds in China,' he said.
Fullerton received its private fund management (PFM) approval from the Asset Management Association of China in September.