Schroder Fund Management (China) has filed applications with the China Securities Regulatory Commission to switch the registered manager of three publicly offered securities investment funds in China to Neuberger Berman Fund Management (China), reported China Daily.
The move involves the transfer of part of the mutual fund business run by Schroders’ wholly owned China unit to Neuberger Berman
Recently, Reuters reported that Schroders plans to withdraw from its Chinese funds business and had reached a deal to sell its products to US asset manager Neuberger. Schroders will still offer both public and private fund services to investors in China and said the change should not be seen as a departure from the market. According to Schroders, the change is linked to a wider global restructuring programme rather than an exit from China.
From 2025, the group has been implementing a three-year global plan intended to narrow its business focus and raise operating efficiency, including adjustments to business structures and client offerings in selected markets in Asia, Europe and South America. Schroder Fund Management (China) said its long-term investment commitment in China remains in place and that its overall approach to the country has not changed. “The Chinese market contains tremendous opportunities,” a spokesperson for the company said. “Schroders remains firmly committed to the long-term development and success of the Chinese market, and will continue to deepen its presence in China by providing diversified investment solutions, products and services for Chinese investors across the broader asset management market, including both public and private funds.” In a separate statement, Neuberger Berman Fund Management (China) said that, if approved at fund holders’ meetings, it will also assume part of the core investment team responsible for the funds involved. Neuberger Berman Fund Management (China), which began operations in 2022, has introduced equity, hybrid and bond…