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Global asset manager plan China mutual fund units -Shanghai gov

Reuters SG
Updated

SHANGHAI/BEIJING, March 20 (Reuters) - Global asset managers including BlackRock, Fidelity International, Neuberger Berman and Schroders plan to set up mutual fund units in Shanghai once rules allow, the Shanghai government said on Friday.

In addition, Singaporean bank DBS has applied to set up a majority-owned securities venture in the city, the government said in a statement. (Reporting by Samuel Shen, Cheng Leng and Andrew Galbraith Editing by David Goodman )