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Man Group wins approval for private fund management license in China

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Man Group wins approval for private fund management license in China

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LONDON (Reuters) – British hedge fund Man Group <EMG.L> said on Thursday it had received approval to develop onshore investment products in China. Man Group said it had successfully registered with the Asset Management Association of China (AMAC) as a private securities investment fund manager and received a Private Securities Investment Fund Manager (PFM) license. The PFM license has been granted to Man Investment Management (Shanghai) Co, Ltd, a Wholly Foreign-Owned Enterprise (WFOE) incorporated in Huangpu District, Shanghai, it said. “We strongly believe that there has been a growing appetite from the Chinese institutional investment community for the products we will offer under the new license,” Man Group Chief Executive Luke Ellis said.

(Reporting by Simon Jessop)
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