Excel Funds Management has announced that China Asset Management Co has been appointed as a sub-advisor to manage a minority portion of the assets of Excel China Fund, effective on or about February 1, 2014.
Baring International Investment (London, England) and Baring Asset Management (Asia) (Hong Kong) continue as sub-advisors to the remaining assets of the Fund. The investment objective and investment strategies of the Fund remain unchanged.
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Established in 1998, China Asset Management Co., Ltd. ("China AMC") is one of the initial nation-wide fund management companies approved by the China Securities Regulatory Commission (CSRC).
China AMC is also the largest asset manager in China with total assets under management of more than US56 billion as at June 30, 2013. It provides services to both domestic and foreign clients in equity and fixed income markets, and has a wide client base consisting of more than 200 institutional investors and 16 million retail investors.
In addition to being a leading institutional asset manager China AMC is the eminent corporate pension manager in China. China AMC is also a leader in the Qualified Foreign Institutional Investor business in China, managing assets of US1.4 billion as at June 30, 2013 for central banks, sovereign wealth funds, government pensions and asset managers from around the globe.
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