UBS AM wins China PFM licence, more imminent
The Swiss firm plans to launch onshore China bond and equity funds, and at least two more asset managers are said to be close to winning licences for private fund management.

UBS Asset Management yesterday became the second foreign fund house to obtain a private fund management (PFM) licence in China – but it has taken a different route to do so than Fidelity, the first to win approval.
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