Business China

Temasek's Foreign-owned Enterprises Have Been Granted a Chinese Private Investment Company License

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Fullerton Fund Management (Fullerton Singapore) recently announced that its wholly foreign owned enterprise (WFOE) -- Fullerton investment management (Shanghai) co. LTD, has entitled of the private fund manager qualification awarded by Asset Management Association of China.

Fullerton is a wholly-owned subsidiary of Temasek Holding. Up to June 30, 2017, the company's assets management has reached 17 billion Singapore dollars. Fullerton Singapore as an Asian fund management is Temasek Holding’s first wholly owned subsidiary that has successfully registered as a private fund manager to Asset Management Association of China.

"We are committed to expanding our asset management scale and taking a place in the regional asset management industry," said Ho Tian Yee, director of Fullerton Singapore. As an asset manager that is focused on Asia, we believe in China's long-term growth and investment potential. Since we appointed Mark Li as the managing director of Fullerton investment management (Shanghai), the Shanghai team has played a vital role in expanding China's business. We are honored to be the first foreign company that has obtained the private fund manager's license in Asia. The Company appreciates the constant trust and support from China Securities Regulatory Commission and China securities investment fund industry association.

Mark Li, the general manager of Fullerton Shanghai said: "After successfully registered as private equity fund managers, we will develop the business in China, making Fullerton Shanghai the main driving force of the Fullerton Singapore development strategy. Fullerton Shanghai is the first overseas branch established by Fullerton Singapore, and localization is one of our characteristics. At the same time, we are actively engaged with domestic investors and distribution institutions to provide private fund products to eligible individuals and institutional investors. Fullerton Singapore enjoys its good reputation in Singapore and we believe our investment expertise can provide attractive products to Chinese customers.”

As early as 2007, Fullerton Singapore has established a representative office in China and hired domestic equity analysts to analyze the A-share market in China. For years, Fullerton Singapore has obtained QFII, RQFII and Chinese interbank bond licenses benefiting from the opening of China's capital markets. This time, after registered as a private fund manager, Fullerton Shanghai can provide domestic investment products to qualified institutions and high net worth investors in China.

In the past few years, Fullerton Singapore has been expanding the scale of its company in Shanghai, which the number of employees has grown from six in 2016 to 11 today, and plans to expand more its business grows.

Before the company was founded, the Fullerton investment team was Temasek Holding's internal wealth management unit, which has been managing its funds since 1989. Now, the corporate’s clients including government departments, pension plans, insurance companies, university endowments, sovereign funds and personal wealth. With 13 years of experience in Asian financial markets, we will carry forward the tradition of our institutions and provides our customers with long-term, research-based and assured investment solutions.

Fullerton is headquartered in Singapore with overseas branch offices distributed in Shanghai, Tokyo and London. According to the Securities and Futures Act, Fullerton was regulated by the Singapore monetary authority. Up to June 30, 2017, the company's assets under management have reached 17 billion Singapore dollars.

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