Eastspring has opened an office in Shanghai to capture a larger of the country’s high-net-worth market.
The new Shanghai office will be a full-service investment and distribution office.
The opening of the new Shanghai office follows after Eastspring established its investment management wholly-foreign owned enterprise in March and received its private securities investment fund manager licence in October.
With the opening of a Shanghai office, Eastspring could better serve the Chinese investors – specifically the qualified high-net-worth individuals and institutional investors – and offer them the opportunity to invest in its global offshore funds.
In addition, its Shanghai office will also provide global investors the opportunity to invest directly in China via Eastspring’s onshore investment team.
Eastspring said it hopes to expand its Shanghai-based team to 20 staff by end of 2019, from 11 people now.
The Shanghai office is led by Michael Lu, the company’s general manager for China. He joined from Robeco, where he led their China business for more than 10 years.
The Chinese equities investment team, meanwhile, is led by Michelle Qi, who joined Eastspring in June as its CIO for equities for China. In total, there are five investment professionals in the Shanghai office.
Guy Strapp, the company’s chief executive, said Eastspring will be launching a growth equity China A-share strategy early next year.
He said the China A-share strategy that will be distributed by domestic securities firms and third-party wealth managers.