China readies discretionary asset management

Now a real institutional market can take off in the PeopleÆs Republic.
June 07, 2001
China Life, Pacific Insurance and Ping An -- three of China’s biggest life insurance companies -- are preparing to become the mainland’s first institutional investors in mutual funds managed for them on a discretionary basis by domestic fund managers.

To date, institutional investors -- insurance companies and the pension funds of state-owned enterprises -- have been allowed to invest in pooled mutual funds. But given their size, they have long wanted the opportunity to have investment vehicles tailored for them.

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