Baring Asset Management (Barings) is reportedly weighing various options to expand its presence in China, including a joint venture or a wholly-owned office.
The firm is planning to establish a joint venture firm, a master agent agreement for MRF or set up a representative or wholly-owned office in China, the firm’s head of distribution Edmund Chong told AsianInvestor.
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The firm is also exploring options for expansion in Singapore by establishing a physical presence there and recruiting a sales person in the city.
The Singapore market, which is important for the firm’s retail and private banking distribution, was led by a senior sales person based in Taiwan, who has left the firm in July.
Edmund Chong, head of sales, client service and business development for Asia ex-Japan distribution, said that the firm currently conducts institutional and qualified domestic institutional investor (QDII) business in mainland China, supported out of the Hong Kong office.
Barings sells QDII funds through HSBC, ANZ, Citi and Standard Chartered Bank in China by targeting affluent retail investors.
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By GlobalData"If we want a lucrative business in China we need to expand the team. We should be putting in more focus and resources, and that is a must. The firm has a steering committee looking at the various options for the China business but no decision has been made yet," he added.
