MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, February 26, 2003 JP Morgan Still in Talks in China JP Morgan has broken off talks with Huaan Fund Management on creating a joint venture to distribute mutual funds in China. The firm announced the news yesterday, but gave no explanation for why the discussions failed. Just last week Invesco finalized a similar deal with Great Wall Securities to offer funds in the Chinese market. The American bank had reportedly been negotiating to purchase an equity stake in Huaan through its JF Asset Management unit. Huaan claims roughly $1.5 billion in assets under management, giving it a 10 percent share of the Chinese market. JP Morgan told Reuters that it is still interested in pursuing opportunities in China. Presumably, it would need to find a new Chinese partner for the effort. A spokesperson confirmed to the news service that JP Morgan is "still holding dialogues with Chinese counterparts." "We're extremely interested in pursuing asset management business in China. That's always been the case," Reuters quotes the spokesperson as saying. Among the firms trying to put together products for the Chinese market are: Printed from: MFWire.com/story.asp?s=4631 Copyright 2003, InvestmentWires, Inc. All Rights Reserved |