Building Blocks

Dresdner RCMÆs Bruce Kho and Mark Konyn discuss the shape of fund management in China.

Draft legislation in China will allow for foreign fund management companies to enter joint ventures with domestic securities companies or their asset management subsidiaries for up to 49% of ownership after three years. The goal is to establish an open-ended mutual funds industry, but turning the draft legislation to law hinges upon Chinas accession to the World Trade Organization. Currently, China has a booming $6-7 billion closed-end mutual funds market that remains closed to foreigners.

BKhoMKonynLast week, Dresdner...

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