Fidelity International, a Bermuda-based investment management company, has secured licence from the Asset Management Association of China to launch investment products in the country.

The private fund management licence has been awarded FIL Investment Management (Shanghai), a wholly-owned subsidiary of Fidelity.  

The licence will allow Fidelity will create onshore investment products for eligible Chinese institutional and HNW customers.

Fidelity International Asia Pacific ex-Japan managing director Daisy Ho said: “We firmly believe a local presence in China is critical not only to understand clients’ needs, but also to actively identify investment opportunities through our global research and investment capabilities.”

Fidelity has been operating in China since 2004, and has representative offices in Shanghai, Beijing and an operating center in Dalian.