Core Viewpoint - Prudential Insurance Asset Management Co., Ltd. (Prudential Asset Management) has officially received approval to commence operations, marking a significant milestone as the first wholly foreign-owned insurance asset management company directly established by an overseas financial institution in China [1][4][7]. Group 1: Company Establishment - Prudential Asset Management was granted approval to establish operations on September 2, 2025, after receiving its preparatory approval on October 17, 2024 [1][3]. - The company is registered in Beijing with a capital of 20 million USD, fully funded by The Prudential Insurance Company of America [1][4]. - It is the second wholly foreign-owned insurance asset management company in China, following Allianz Insurance Asset Management, and the first established after the issuance of the "Regulations on the Management of Insurance Asset Management Companies" [3][4]. Group 2: Significance and Policy Context - The establishment of Prudential Asset Management is a landmark event, as it is the first insurance asset management company directly initiated by a foreign financial institution in China [4]. - The approval aligns with the State Council's plan to support foreign insurance companies in establishing insurance asset management companies in Beijing under controllable risk conditions [4]. - Prudential Asset Management represents a breakthrough in allowing direct foreign investment in the establishment of insurance asset management firms in China [4]. Group 3: Strategic Importance - The opening of Prudential Asset Management signifies the deepening of Prudential Financial Group's presence in the Chinese insurance market, encompassing life insurance, reinsurance, and insurance asset management [5][7]. - Prudential Financial Group operates in over 50 countries and regions, providing a range of financial products and services, which will be integrated into Prudential Asset Management's operations in China [8]. Group 4: Leadership - The proposed chairman of Prudential Asset Management is Lai Jun, and the proposed general manager is Luo Zhuobin, both of whom have extensive experience in the insurance industry [9]. - Lai Jun has held various senior positions in the insurance sector and is currently the president of Prudential Financial Group for China and Indonesia [9]. - Luo Zhuobin has over 20 years of management experience in the insurance industry and currently serves as the vice president of finance for Prudential Financial Group's retirement and insurance business in China [9]. Group 5: Business Vision - Prudential Asset Management aims to combine advanced investment concepts with innovative technology, focusing on compliance and steady development while serving clients across China [10].

Group 1 - KKR's first onshore RMB fund, with a scale of approximately 400 million RMB, has been officially registered in Shanghai's Lingang New Area, marking a significant milestone in China's capital market opening [1][2] - The fund's structure highlights the importance of local capital, with Ping An Capital contributing 79.8% of the funding, indicating a strategic collaboration between foreign and domestic institutions [2][3] - The establishment of this fund reflects KKR's deep localization strategy and the evolving landscape of foreign investment in China's financial market [2][6] Group 2 - The launch of KKR's RMB fund coincides with a critical moment for the revaluation of Chinese assets, as the total market capitalization of A-shares surpassed 100 trillion RMB for the first time on August 18, 2025 [4] - There is a notable shift in international capital's attitude towards investing in China, with foreign LPs increasingly seeking opportunities in Chinese technology companies [4][5] - The regulatory environment is becoming more favorable for foreign investments, as policies are being implemented to facilitate cross-border investments and mergers [4][5] Group 3 - KKR's investment strategy in China is becoming more precise, focusing on mature industries with stable competitive landscapes and high pricing power [6][7] - Despite a decrease in the number and amount of investments in recent years, KKR believes that there are more merger and acquisition opportunities now than in the past [6][7] - KKR's global investment focus is shifting towards tangible assets, with infrastructure assets being highlighted as a resilient investment option in various economic conditions [6][7]

外资持续加码布局中国市场。7月21日，上海金融监管局发布批复，同意汇丰人寿保险有限公司 （下称"汇丰人寿"）增加注册资本3.62亿元，由23.14亿元变更为26.76亿元。 记者了解到，此次增资由汇丰人寿唯一股东汇丰保险（亚洲）有限公司（下称"汇丰保险"）全额出 资，无新增股东。增资完成后，汇丰保险持有汇丰人寿100%股权比例维持不变。 公开资料显示，汇丰人寿于2009年8月正式开业，总部设于上海，由汇丰保险和国民信托有限公司 （下称"国民信托"）共同出资，双方各持股50%，属于典型的中外合资寿险公司。 监管正式取消合资寿险公司的外资比例限制后，汇丰人寿迅速开启"合转外"进程。2021年底，国民 信托获批将其所持有的汇丰人寿50%的股权转让给汇丰保险。自此，国民信托退出汇丰人寿股东行列， 汇丰人寿变身成为我国第三家外资独资寿险公司。 从履历来看，程思韵毕业于伦敦政治经济学院，获精算科学理学士学位，同时为英国精算师协会会 员，在精算咨询、保险、再保险等行业有超过二十年的工作经验。2023年11月，程思韵加入汇丰集团， 现任汇丰控股有限公司环球保险业务首席产品官。在此之前，其曾在瑞士再保险集团工作十余年，先后 被 ...

Group 1 - The China Securities Investment Fund Industry Association has recently registered two private equity and venture capital fund managers: Danming (Shanghai) Private Fund Management Co., Ltd. and Anide Private Fund Management (Beijing) Co., Ltd. [1] - Danming Private Fund was established on March 26, 2025, with a registered capital of 21 million RMB, located in Jing'an District, Shanghai. It is a wholly foreign-owned enterprise fully owned by True Light Capital Pte. Ltd., a subsidiary of Singapore's Temasek [2][3] - True Light Capital, founded in 2021 and headquartered in Singapore, operates independently and raises funds externally. Its first fund, True Light Fund I, completed fundraising of 3.3 billion USD (approximately 24 billion RMB) in October 2023, focusing on sectors such as life sciences, technology, consumer, and industrial services in Greater China [3] Group 2 - Anide Private Fund was established on August 21, 2024, with a registered capital of 2 million USD, located in Tongzhou District, Beijing. It is fully established by Earnest Partners through its subsidiary Earnest Partners Private Capital LLC [3] - Earnest Partners, headquartered in Atlanta, manages over 30 billion USD in assets and has been investing in China since obtaining QFII qualification in 2012, covering sectors like new infrastructure, AI healthcare, and advanced manufacturing [3]

Core Viewpoint - UBS AG has acquired a 20% stake in ICBC Credit Suisse Asset Management Co., Ltd., now renamed ICBC UBS Asset Management Co., Ltd., marking a significant move in the Chinese market [1][4]. Group 1: Shareholding Changes - The shareholding change was approved by the China Securities Regulatory Commission, allowing UBS to become a significant shareholder while ICBC retains 80% ownership [1][4]. - The official name change took effect on June 13, 2025, reflecting the new ownership structure [2][4]. Group 2: Company Background - ICBC UBS Asset Management was established in 2005 and is a state-controlled fund management company with a total asset management scale exceeding 2 trillion yuan [4][5]. - The company manages 254 public funds and various pension and private asset management plans, leading in pension management within the industry [4][6]. Group 3: Market Position and Growth - As of the first quarter of 2025, ICBC UBS Asset Management ranked 13th in the domestic public fund industry, with a public fund management scale of 782.3 billion yuan [7]. - The company has a comprehensive range of qualifications and products, including public funds, private asset management plans, and various pension products [5][6]. Group 4: Foreign Investment Interest - The stake acquisition by UBS follows its merger with Credit Suisse, increasing its public fund license holdings in China to two [8]. - Other foreign financial institutions are also expanding their presence in the Chinese market, with the number of wholly foreign-owned fund companies reaching nine [9][10].

Core Viewpoint - The shareholder change of ICBC Credit Suisse Asset Management has been finalized after 10 months, with UBS becoming the second-largest shareholder holding 20% of the shares, while ICBC retains 80% [1][4]. Shareholder Change Details - UBS officially became a shareholder with over 5% stake in ICBC Credit Suisse Asset Management, with the change in ownership registered [4]. - The change in ownership was a passive result of UBS's acquisition of Credit Suisse, which included the 20% stake in ICBC Credit Suisse Asset Management [5]. - The entire process took approximately 10 months, from the submission of the application to the approval by the regulatory authority [5]. Company Operations and Governance - ICBC Credit Suisse Asset Management plans to enhance corporate governance and investment research capabilities while maintaining compliance and risk management [5]. - UBS has not appointed management personnel to ICBC Credit Suisse Asset Management, indicating no substantial impact on daily operations [5]. - The name of ICBC Credit Suisse Asset Management will remain unchanged in Chinese, with only adjustments made to the English name and website domain [6]. Market Position and Growth - ICBC Credit Suisse Asset Management, established in June 2005, manages 257 funds with a total net asset value of 792.8 billion yuan, ranking 13th in the industry [6]. - UBS has previously invested in the Chinese public fund market, holding a 49% stake in Guotai Junan Fund, which has a fund asset scale of 248.4 billion yuan [7]. - UBS has expressed a strong commitment to the Chinese market, viewing it as a key strategic area for growth [7]. Industry Trends - Several foreign institutions are increasingly interested in the Chinese public fund market, with multiple foreign entities accelerating their investments [8]. - As of now, there are 9 wholly foreign-owned public fund managers and 42 joint venture fund companies in China, indicating a growing foreign presence in the market [8]. - Recent capital increases by foreign-owned public funds reflect their expanding business and capital needs in the Chinese market [9].

智通财经记者 | 杜萌 经过近一年的时间，中东土豪卡塔尔控股公司入股华夏基金终于尘埃落定。 今日傍晚，证监会发布《关于核准华夏基金管理有限公司变更持股5%以上股东的批复》。批复称，核准卡塔尔控股有限责任公司（Qatar Holding LLC）成 为华夏基金持股5%以上股东；对卡塔尔控股有限责任公司依法受让华夏基金2380万元人民币出资（占注册资本比例10%）无异议。 证监会数据显示，2024年5月23日，华夏基金向证监会提交《变更5%以上股权及实际控制人》的申请表。 图：卡塔尔控股公司购买华夏基金10%股份被证监会核准 来源：证监会网站 华夏基金成立于1998年4月，是国内较早成立的公募"老十家"之一，注册资本为2.38亿元。截至今年一季度末，华夏基金所管理的公募资产总规模为1.91万亿 元，仅次于易方达基金。其中，货币基金为6992亿元，股票型基金为6712亿元，均超过易方达基金。 从股权结构来看，华夏基金目前共有3名股东，其中，中信证券出资1.48亿元，持有华夏基金62.2%的股权，是华夏基金控股股东；迈凯希金融公司 （MACKENZIE FINANCIAL CORPORATION）出资6616.4万元 ...

Core Viewpoint - The article highlights the recent capital increase by Lianbo Fund, which raised its registered capital from 300 million RMB to 500 million RMB, reflecting foreign asset management firms' commitment to the Chinese market and their strategic long-term development plans [1][3][5]. Group 1: Company Actions - Lianbo Fund announced a capital increase of 200 million RMB, marking its second increase since receiving approval to operate in China in January 2024 [1][3]. - The fund's first product, Lianbo Smart Selection, has been issued for about a year, with a scale of 160 million RMB and major holdings including Ningde Times and Huatai Securities [4]. - Lianbo Fund's previous capital increase occurred in May 2023, when it raised its capital from 200 million RMB to 300 million RMB [5]. Group 2: Industry Trends - Many foreign-owned public funds have recently announced capital increases, indicating their positive outlook on the Chinese market [7][10]. - Fidelity Fund has increased its registered capital from 160 million USD to 182 million USD, completing five rounds of capital increases since its establishment in 2021 [7]. - Other firms like Robeco and Allianz have also made significant capital expansions, reflecting their commitment to the Chinese market [8]. Group 3: Strategic Implications - The capital increases are primarily aimed at supporting business expansion, product diversification, and enhancing risk management capabilities in response to stricter regulatory requirements [10][11]. - The necessity for capital increases is particularly pronounced for foreign public funds, as it ensures they have sufficient buffers to comply with new regulations and demonstrates their long-term confidence in the Chinese capital market [10][11]. - Continuous capital investment by foreign public funds not only enhances their competitive edge but also sends a positive signal to global investors about the prospects of the Chinese market [11].