clsa-and-shanghai-guosheng-to-launch-renminbi-fund-in-china

CLSA and Shanghai Guosheng to launch renminbi fund in China

CLSA and Shanghai Guosheng Group agree to create a joint venture to launch a renminbi-denominated investment fund in China focusing on Shanghai.

CLSA and Shanghai Gosheng have reached an in-principle agreement to establish a joint venture asset management company as a platform to launch a domestic renminbi-denominated investment fund in the Shanghai Pudong International Financial Centre region.

The tentative name of the JV is Guosheng CLSA Shanghai Industrial Management Co Ltd. There is currently no name for the fund.

The collaboration, which was announced at the signing of a memorandum of understanding in Shanghai yesterday, aims to leverage the strong growth in China's market to invest in industries with significant potential for absolute capital gains, such as renewable energy, green environment, consumer and heavy machinery sectors. The fund will favour investments based in,...

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