JPMorgan’s China asset management venture is considering raising $1 billion-$2 billion for its first overseas investment fund — a product key for the firm to diversify its business risks, the venture’s Chief Executive Mandy Wang said at the China Century Summit.
China International Fund Management Co — which manages more than 70 billion yuan from more than three million customers — won official approval early last month to launch the fund under China’s Qualified Domestic Institutional Investor (QDII) scheme, a programme aimed at easing the upward pressure on the country’s currency.
