AllianceBernstein (AB) Gets Mutual Fund License in China

AllianceBernstein Holding LP (AB) received a license to operate its wholly-owned mutual fund business in China. The news was reported by Reuters."AllianceBernstein will offer Chinese investors onshore investment products and solutions, and help them explore opportunities in China's domestic market," the company noted in a statement posted on its WeChat account.This makes AB the latest foreign asset manager to leverage China's $3.8-trillion mutual fund market.Markedly, in 2020, China removed limitations on f ...