Summit Notebook

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JPMorgan’s China asset management venture eyes $1 bln – $2 bln for first overseas fund

September 5, 2007

cifm.jpgJPMorgan’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.

 

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