BEIJING (Reuters) -U.S. asset manager Neuberger Berman’s Chinese unit said on Friday it has been granted a license by the Chinese securities regulator to conduct mutual fund business.
It officially becomes the second wholly foreign-owned fund management company allowed to conduct mutual fund business in the country, the company said on its official WeChat account.
BlackRock already operates a fully owned mutual fund business in China.
In September, the China Securities Regulatory Commission (CSRC) approved Neuberger Berman to set up a wholly owned mutual fund unit in Shanghai.
(Reporting by Samuel Shen, Ella Cao and Twinnie Siu, Editing by Louise Heavens)
