Pictet Asset Management (Pictet AM), the asset management arm of Geneva-based independent Pictet Group, announced today that its wholly foreign-owned enterprise (WFOE) in Shanghai, has successfully registered as a Qualified Domestic Limited Partner (QDLP) Manager with the Asset Management Association of China (AMAC).
Pictet AM first opened its WFOE Pictet Private Fund Management (Shanghai) Limited in November 2020. The QDLP license will enable it to develop and offer QDLP products to qualified investors in China, to invest in the firm’s offshore strategies.
Ms. Junjie Watkins, Pictet AM’s CEO, Asia ex Japan, said, “The AMAC registration marks another milestone in our long-term commitment to the China market and the continued expansion of our business footprint. We look forward to the additiona opportunities that allow us to bring our global expertise and product offering to onshore investors, who are increasingly looking for more diversified investments.”
The AMAC registration of its Shanghai WFOE further complements Pictet AM’s overall China strategy. Pictet AM has been investing onshore for global clients via several programmes, such as the Renminbi Qualified Foreign Institutional Investor (RQFII) programme, Shanghai-Hong Kong Stock Connect, Bond Connect and China Interbank Bond Market (CIBM) Direct Access. The firm has been cooperating with onshore global banks under the Qualified Domestic Institutional Investor (QDII) scheme. In July 2020, Pictet AM launched its first northbound fund under the Mutual Recognition of Funds (MRF) scheme.
Pictet AM is an independent asset manager, overseeing more than USD 274 billion* for its clients across a range of equity, fixed income, multi asset and alternative strategies. It provides specialist investment services through segregated accounts and investment funds to some of the world’s largest pension funds, financial institutions, sovereign wealth funds, intermediaries and their clients. Pictet AM’s mission is to build responsible partnerships with its clients by exceeding their expectations for investment performance and service. It currently has approximately 900 employees located in 18 offices across the world, of which around a third are investment professionals.
* as at June 30, 2021
Notes to the Editor
The Pictet Group
The Pictet Group is a partnership of seven (soon to be nine) owner-managers, with principles of succession and transmission of ownership that have remained unchanged since foundation in 1805. It offers only wealth management, asset management, alternative investment solutions and related asset services. The Group does not engage in investment banking, nor does it extend commercial loans. With USD 703 billion in assets under management or custody at 1 March 2021, Pictet is today one of the leading Europe-based independent wealth and asset managers for private clients and institutional investors.
Headquartered and founded in Geneva, Switzerland, Pictet employs around 4,900 people. It has 30 offices worldwide, in Amsterdam, Barcelona, Basel, Brussels, Dubai, Frankfurt, Geneva, Hong Kong, Lausanne, London, Luxembourg, Madrid, Milan, Monaco, Montreal, Munich, Nassau, New York, Osaka, Paris, Rome, Shanghai, Singapore, Stuttgart, Taipei, Tel Aviv, Tokyo, Turin, Verona and Zurich.
Pictet Asset Management
Pictet Asset Management includes all the operating subsidiaries and divisions of the Pictet Group that carry out institutional asset management and fund management. Pictet Asset Management Limited is authorised and regulated by the UK’s Financial Conduct Authority. Pictet AM has 18 business development centres worldwide, extending from London, Brussels, Geneva, Frankfurt, Amsterdam, Luxembourg, Madrid, Milan, Paris and Zurich to Hong Kong, Shanghai, Taipei, Osaka, Tokyo, Singapore, Montreal and New York.
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