Baltimore-based asset manager T. Rowe Price has deepened its research coverage by launching an investment research office in Shanghai.

The Shanghai office is expected to bolster the company’s research coverage of China’s evolving investment ecosystem. It will act as a home base for new analysts who will cover Chinese companies.

It will be led by Dai Wang who has been part of T. Rowe Price since 2014. Wang has worked as a research analyst in the firm’s Equity Division spanning Asian stocks in Hong Kong and in its Baltimore base.

Shanghai marks the firm’s sixth location in the Asia Pacific region, after Hong Kong, Tokyo, Singapore, Sydney, and Melbourne, and its 24th location worldwide.

The opening of the new office follows the launch of a wholly foreign-owned enterprise (WFOE), T. Rowe Price Investment Consulting, in Shanghai’s Free Trade Zone last December.

The new office will support the firm’s global research platform. This platform informs investment decisions across the asset manger’s local, regional, and global investment strategies.

Roots in China

Rowe Price has been investing in China for several years as part of its global strategies. At present, the company maintains two China-focused strategies managed out of Hong Kong by Wenli Zheng and Jacqueline Liu.

As of last December, T. Rowe Price invested $4.8 bn into securities listed in Mainland China via its Qualified Foreign Institutional Investors (QFII) and the Shanghai-Hong Kong and Shenzhen-Hong Kong Connect schemes.

This adds to the $36.9bn invested by the firm in Chinese securities listed on offshore exchanges.


Rowe Price head of International Equity and co-head of Global Equity Justin Thomson noted that China houses some of the most exciting global investment opportunities, emerging as the second largest equity market globally.

Thomson said: “The opening of our office in Shanghai represents an important milestone for T. Rowe Price, both in terms of bolstering our coverage of and commitment to China, as well as our long-term plan to build a sustainable and diversified business in the Asia Pacific region.

Rowe Price head of Asia ex-Japan Distribution Elsie Chan said: “We have been managing money on behalf of eligible Chinese institutional clients since 2006.

“The establishment of the investment consulting WFOE shows we are continuing to develop our investment research capabilities on behalf of our clients. We continue to closely monitor developments in the market and seek opportunities to work with clients who share our long-term focus.”