China $214 Billion Fund Manager Looks to Boost Overseas Inflows
- China Asset Management seeks to grow QFII funds to $10 billion
- Money manager plans more ESG funds with localized standards
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One of China’s largest asset managers is targeting to almost double the foreign cash it oversees as the nation’s economic rise and financial opening increases demand.
China Asset Management Co. will seek to grow such assets to at least $10 billion over the next few years, up from about $6 billion, Richard Pan, head of Global Capital Investment at the Beijing-based firm, said in an interview. Its assets under the Qualified Foreign Institutional Investor plan -- a program that allows foreigners to invest in China -- have risen from $1 billion in 2013.