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CORRECTED-Fidelity International gets licence to launch onshore China funds
January 4, 2017 / 10:06 AM / a year ago

CORRECTED-Fidelity International gets licence to launch onshore China funds

(Corrects to show Fidelity International based in Bermuda, paragraph 1)

LONDON, Jan 4 (Reuters) - Bermuda-based fund firm Fidelity International Limited said on Wednesday it had become the first large foreign asset manager to be awarded a licence that allows it to invest in China’s financial markets on behalf of Chinese institutions and affluent investors.

The investment manager said its wholly foreign-owned enterprise (WFOE) in Shanghai was the first to register with the Asset Management Association of China (AMAC) as a private fund management company.

“China is crucial to our global growth strategy, and as a privately-owned company, we are able to take a long-term approach to develop the best solutions for our clients to meet their investment and retirement needs,” said Mark Talbot, Managing Director, Asia Pacific, Fidelity International. (Reporting by Simon Jessop; editing by Rachel Armstrong)

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