Bond veteran sets up mutual fund firm in Shanghai
Veteran bond hedge fund manager Yang Aibin has set up only China's second individual-owned mutual fund firm. It will seek institutional clients for its fixed income strategies.
A veteran bond manager, who heads a Beijing-based private fund firm, has registered his own mutual fund company in Shanghai, after gaining the go-ahead from China’s securities regulator.
It marks the second time an individual-owned private fund manager has received permission to do so. Yang Aibin's success raises hopes for other private fund managers awaiting approval to move into the mutual fund segment, which allows them to source funds from retail investors.
Pengyang Fund Man…
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