Invesco changes horses in China stream
It has obtained CSRC approval to form a fund management JV, but not with Penghua.
The China Securities Regulatory Commission in Beijing has authorized Invesco to establish an asset management joint venture company. Invesco, a unit of Anglo-American investment manager Amvescap, had been engaged in an informal partnership with Shenzhen-based Penghua Fund Management.But the JV is not with Penghua, but with Great Wall Securities, and it will be called Invesco Great Wall.Invesco's Asia Pacific CEO Andrew Lo explains the firm has been in talks with Great Wall, also based…
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