| China has relaxed rules around foreign investment for its national pension fund, raising expectations within the international asset management community of potential future business wins. China’s State Council last week released an announcement clarifying rules governing its National Social Security Fund, the fifth-largest pension fund in the world, with $205bn of assets.
Stewart Aldcroft, Asia chief executive of CitiTrust, Citigroup’s securities and funds services business, who is based in Hong Kong, said: “International fund managers are constantly trawling these funds for more money to manage on their behalf. It is estimated there are more than 120 international mandates now given out by mainland [Chinese] institutions and [China’s sovereign wealth fund]. There is always an opportunity.”..............................................Full Article: Source
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