China to let foreigners own plurality of fund JVs

Impending deals with Lombarda Bank and Lord Abbott demonstrate new options for shareholding arrangements.

In the queue for Sino-foreign joint ventures for fund management, two small deals stand out in both cases the foreign party is expected to attain a plurality of shares. Although foreign partners can own up to 49% and many structures involve three or more parties, so far all these deals involve one local player holding more shares than the others.

In one case, Invesco and its main partner, Great Wall Securities, both own 49% with the other 2% held by two other passive members.

But two new tie-ups reportedly will see the foreign party with an outright plurality. Banca Lombarda, a mid-sized bank from Italy's Lombard and...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222