ABN AMRO ups stake in China fund-management JV

ABN AMRO Asset Management teams up with Northern Trust and Tianjin TEDA in a China fund management joint venture.
ABN AMRO Asset Management announced Tuesday May 9 that it will increase its stake in its China fund management joint venture, while adding a new partner û Tianjin TEDA Holdings.

ABN AMRO Asset Management's move is straightforward. It has boosted its stake in its China fund management joint venture by taking up a 16% stake held by Xiangcai Securities. This brings ABN AMROÆs interest in the joint venture to 49%, the maximum threshold foreign investors are allowed to take in a fund management joint venture in China.

The new partner aspect of the deal is slightly more complex. The Tianjin Municipal Government investment arm, Tianjin TEDA Holdings, through its subsidiary Northern International Trust Investment,...
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