Fidelity International, FIL Fund Management (China) Company Limited has announced its intention to launch its first mutual fund in China in the near future.
The company’s current plans provide for the launch of a fund, which will be called the Fidelity Pedigree Equity Fund, on April 3. This fund with a six-month ownership period will be available to Chinese investors through distribution channels, including the Ant Fortune platform, Bank of China, and CITIC Securities.
As China’s financial market becomes more accessible, international asset managers are directing more and more investments into this region. Fidelity Fund is one of the first foreign companies of the relevant profile, wholly owned by the state, to receive approval from Chinese regulatory authorities to open a mutual fund business. This firm is also one of the first foreign full-fledged asset managers that cooperates with the Ant Fortune platform to improve digital operations.
Helen Huang, general manager of FIL Fund Management (China) Company Limited, stated that the firm, as one of the first global asset managers to run a wholly-owned onshore mutual fund management business in China, seeks to benefit from Fidelity’s extensive global experience. She also named deepening cooperation with local partners as one of the priorities of her activity in order to help Chinese investors achieve strategic goals in the field of finance.
Helen Huang stated that with the launch of the first mutual fund, the company aims to use Ant Fortune to provide customers with an attractive, friendly, and interactive digital investment experience.
Fidelity International established cooperation with the Ant Fortune platform in 2018. The interaction began during the preparation of a study on the specifics of retirement in China. This study, in addition to providing analytical materials, was also aimed at training investors.
In order to expand digital operations in the Chinese market and better interact with local investors, Fidelity Fund launched its Caifuhao corporate account on the Ant Fortune platform in February 2023, which attracted 204 thousand subscribers in its first month of existence.
With the help of digital tools, including live broadcasts and discussion communities on the Ant Fortune platform, Fidelity Fund promotes the ideology of investing aimed at the prospect of long-term activity and publishes educational materials.
Yuan Sheng, head of the Ant Fortune open platform, stated his readiness to continue providing Fidelity Fund and other partners with more diverse and efficient services. He noted that this will not only improve the user experience but also increase the level of efficiency while reducing costs.
Ant Fortune opens up the platform and technological capabilities to asset management companies. Caifuhao, which was launched in 2017 as a digital service window for financial institutions, attracted more than 150 firms to participate. In 2021, Ant Fortune began offering partners more digital tools to improve the efficiency of user interaction. The main tools are live broadcasts and an online community.
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