AllianzGI expands footprint in China

The company received approval for its FMC business back in August 2023.

Allianz Global Investors (AllianzGI) has received approval from the China Securities Regulatory Commission (CSRC) to operate as a wholly foreign-owned public fund management company (FMC) in mainland China.

In August 2023, AllianzGI secured regulatory approval for its FMC business in mainland China, with a registered capital of $41.2m.

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With the FMC license, they aim to serve the expanding retail investor base in China's trillion-dollar mutual fund market, leveraging global asset management expertise and local delivery capabilities.

The company has been active in the Chinese market since 2017, with initiatives like setting up a Shanghai Wholly Foreign Owned Enterprise (WOFE) office and obtaining a Qualified Domestic Limited Partner (QDLP) license in 2018.