Allianz Dresdner outlines next step in China funds JV

The first Sino-foreign fund management JV has been approved by Beijing, and its new CEO discusses phase two.

Chiang Hsien's business card indicates he works for Guotai Junan Allianz Fund Management Co., Ltd. Preparatory. It's the last word that says the most. Chiang is the CEO-in-waiting for China's first approved Sino-foreign fund management joint venture company, but the license just granted by the regulators is not to conduct business. It is approval to set up the infrastructure and personnel for a business, subject to further approval by the China Securities Regulatory Commission.

The CSRC has granted the application by Guotai Junan Securities and Allianz Dresdner Asset Management or Adam, which entered via its recent acquisition, Dresdner RCM Global Investors to form the JV to manufacture, market and manage domestic mutual...

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