dbs-seals-another-china-jv-amid-frenzy

DBS seals another China JV amid frenzy

It is the fourth foreign-invested mutual funds deal in as many weeks.
The S$11 billion $7 billion DBS Asset Management announced it will acquire a 33% stake in Changsheng Fund Management, making it the fourth Sino-foreign JV deal sealed in the past month.

First State Investments and loan-resolution group Cinda Asset Management announced the establishment of their Shenzhen-based JV, First State Cinda, in late April. Then two pending deals were finalised in the past two weeks, one between Banca Lombarda and Guodu Securities, and another between Lord Abbett and Yangtze Securities.

Now DBS and Changsheng have reached an accord after years of negotiations and technical cooperation.

The wheeling and dealing reveals not only foreignersÆ appetite for a slice of the Chinese funds industry remains large, but...
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