JP Morgan Asset Management given green light to sell funds in China

JP Morgan Asset Management (JPMAM) has had two funds approved for sale in China.

The funds – the Asia Equity Dividend Fund and the Global Bond Fund – will be distributed through JPMAM’s joint venture partner China International Fund Management after the China Securities Regulatory Committee gave the US company the green light.

The funds are being offered through the “mutual recognition of funds” (MRF) scheme, which was established to allow fund managers to sell their Hong Kong registered products in mainland China.

The decision indicates that the Chinese market is becoming more open, despite the ongoing trade war between China and the US.

“We are pleased to see further expansion of the MRF northbound scheme as the China market continues to open up, and are honoured to be one of the key players in this market,” said Dan Watkins, the company’s Asia Pacific chief executive.

“We are committed to helping mainland investors access international investment diversification and embrace the benefits of taking a long-term investment approach.

“We are also excited to continue our strong collaboration with CIFM, which has been instrumental to our success in the MRF scheme, combining CIFM’s extensive distribution presence with the global investment expertise of JPMAM to help enhance investment options for mainland investors.”