J.P. Morgan To Acquire Remaining Stake in China International Fund Management

INVESTMENT MANAGEMENT DEALS BLOG

April 10, 2020

On April 3, 2020, J.P. Morgan Asset Management announced an agreement to take 100% ownership of China International Fund Management Co. Ltd.

Pursuant to the agreement with Shanghai International Trust Co., J.P. Morgan Asset Management (“JPMAM”) will take 100% ownership of China International Fund Management Co. Ltd. (“CIFM”). The deal is subject to approval from the China Securities Regulatory Commission. Due to China’s recent drop of foreign ownership limits on domestic fund management companies, JPMAM will likely be the first foreign manager to take a 100% stake in a joint venture in China. Further terms of the agreement were not disclosed.

JPMAM, based in New York, is a global asset manager for individuals, advisors, and institutions. As of March 2018, JPMAM has $1.7 trillion in assets under management.

CIFM, based in Shanghai, is a management company joint venture launched by JPMAM in 2004 with STICO. As of March 2020, CIFM has $21.1 billion in assets under management.

To read the press release: please click here.