CTAs are racing to partner with China's new breed of asset managers, finds William Mitting.
The Chinese financial regulator has approved 18 FCMs to
start offering asset management services. The move has sparked
a scramble for international partnerships among CTAs as the
newly appointed managers seek to leverage international
expertise and pioneer managed futures in China.
Last month, the China Securities Regulatory Commission
(CSRC) issued its first batch of asset management licences to
18 domestic futures brokers paving the way for the launch of
managed futures in China.
Many of the 18 companies are now on the hunt for
international partners in a bid to replicate the Winton Capital
Management model that led to the creation of the first managed
futures fund in China in September.
The deal between Winton Capital Management and Fortune Fund
Management, a Shanghai-based fund backed by Lyxor, will likely
provide the blueprint for any future co-operation deals between
the newly designated asset managers and international
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