Neuberger Berman Investment Management (Shanghai), Neuberger Berman’s foreign-owned enterprise in China, has secured registration as a private fund manager with the Asset Management Association of China (AMAC).
The registration allows Neuberger Berman to manage private funds and raise assets directly from qualified investors in mainland China, including qualified high-net-worth individuals and local institutions.
Patrick Liu, head of China, Neuberger Berman, said: “This is a very important milestone for Neuberger Berman and we are delighted to be one of the first firms to secure this licence. We are committed to building a leading investment management firm in China, offering our customised product solutions in equities, fixed income, multi-asset, quantitative investing and alternatives.”
The registration expands Neuberger Berman’s commitment to China and its investment resources locally. The firm manages investment portfolios for various leading Chinese institutional and intermediary customers investing in equity, fixed income and private equity strategies.
This year the company appointed Bin Yu as equity portfolio manager and also expanded equity research coverage for global and emerging market managers investing in China. Furthermore, Peter Ru joined the firm in Shanghai as a senior portfolio manager with key responsibility for further developing the firm’s China fixed income capabilities.
Nick Hoar, head of Asia Pacific, Neuberger Berman, commented: “Neuberger Berman has made significant progress across the Asia Pacific region in the past few years. China represents a tremendous opportunity for us and we are committed to adding local resources across different functions including portfolio management, legal and compliance, marketing and research.”