Aegon Asset Management’s wholly foreign-owned enterprise subsidiary in Shanghai has successfully registered as a Qualified Domestic Limited Partner Manager with the Asset Management Association of China.
In practice, the Qualified Domestic Limited Partnership (QDLP) scheme allows Aegon Asset Management (Aegon AM) to provide its range of global investment solutions including equity, bond, real assets and multi-assets products to Chinese institutions and high-net-worth investors.
The completion of the license registration with the Asset Management Association of China (AMAC) and the upcoming launch of the QDLP fund is the most recent step for Aegon AM in strengthening its commitment to the Chinese market.
Aegon AM entered the Chinese domestic market in 2008 via its fund management joint venture Aegon-Industrial Fund Management Company Limited (AIFMC). Today, AIFMC is one of the top 10 active equity investment managers in China[1] with AUM of its mutual funds totaling USD81.6 billion (RMB527.5 billion) as at 30 June, 2021.
Commenting on the approval, Bas NieuweWeme, CEO at Aegon AM, says: “We look forward to bringing our global investment capabilities to the Chinese marketplace as well as building on our strong, existing Chinese presence through our fund management JV AIFMC.”
“We are advocates of responsible investing and many of the strategies we will be introducing into the Chinese market have a clear ESG focus. Indeed, the first product we will be bringing to the region is a global sustainable equity product.”
Mabel Cho, Regional Head of Asia at Aegon AM, adds: “There is a strong appetite for investment diversification in China and the AMAC registration means we are able to bring some of our best global strategies to qualified Chinese investors, on the ground here in China.”
