Schroders Seeks China Approval to Transfer 3 Funds to Neuberger Berman
Updated
Updated · Reuters · May 20
Schroders Seeks China Approval to Transfer 3 Funds to Neuberger Berman
2 articles · Updated · Reuters · May 20
Schroders has applied to China’s securities regulator to shift management of three mutual funds to Neuberger Berman, formalizing a deal Reuters reported last week.
The transfer is part of a three-year transformation plan launched in 2025, even as Schroders said its overall China strategy remains unchanged and it retains confidence in the market.
The Shanghai-based mutual fund unit managed 1.7 billion yuan ($249.9 million) at end-March, a small business compared with Schroders’ $1.1 trillion in global assets.
Schroders won approval to set up the wholly owned China fund unit in January 2023 during Beijing’s financial opening, and the exit from this business is not expected to affect its two other China joint ventures.
Why is the first foreign firm with a wholly-owned China fund now the first to exit after only three years?
As Schroders sells its license, who will win the race in China's challenging but lucrative asset management market?