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Neuberger Berman wins approval to launch onshore China fund

Neuberger Berman wins approval to launch onshore China fund

Investment manager Neuberger Berman has obtained the private fund management (PFM) license from the Asset Management Association of China.

The registration allows the company to manage private funds and raise assets directly from investors in mainland China, including high-net-worth individuals.

Currently, Neuberger Berman manages investment portfolios for Chinese clients investing in equity, fixed income and private equity strategies. Globally, it manages approximately $284 billion in client assets.

To further expand its team in China, this year the firm appointed Bin Yu as equity portfolio manager, as well as expanded equity research coverage for global and emerging market managers investing in the country.

Furthermore, Peter Ru joined in Shanghai as a senior portfolio manager to develop the company’s China fixed income capabilities, it said.

This year a few companies received approvals to launch onshore private funds in China. Invesco and Value Partners announced their permits last week, while Man Group, and Fullerton Fund Management were granted PFM in September.

Fidelity Investment, and UBS Asset Management secured their licenses in January and July, respectively.

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