Invesco changes horses in China stream

It has obtained CSRC approval to form a fund management JV, but not with Penghua.

The China Securities Regulatory Commission in Beijing has authorized Invesco to establish an asset management joint venture company. Invesco, a unit of Anglo-American investment manager Amvescap, had been engaged in an informal partnership with Shenzhen-based Penghua Fund Management.

But the JV is not with Penghua, but with Great Wall Securities, and it will be called Invesco Great Wall.

Invesco's Asia Pacific CEO Andrew Lo explains the firm has been in talks with Great Wall, also based in Shenzhen, since the second quarter of this year, and once those began, had terminated its cooperation agreements with Penghua.

Invesco had been the second foreign fund manager to sign a technical advisory agreement with a domestic money manager...

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