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Laxman Pai, Opalesque Asia: Two Sigma China, the wholly-foreign owned enterprise (WFOE) of Two Sigma, recently received private fund management (PFM) license, said the Asset Management Association of China (AMAC).
The New York-based hedge fund now has six months to launch an onshore product in China. "The PFM registration enables the company to develop and market onshore investment products for qualified investors in China," said the hedge fund.
Two Sigma, New York, incorporated Shanghai-based Two Sigma China as a wholly foreign-owned enterprise in November 2018, prior to seeking registration with AMAC.
"We endeavor to be a valuable investment partner for Chinese clients and support China opening up its financial markets to the world," said Carissa Xu, managing director, and general manager at Two Sigma China.
"China continues to make strides to welcome outside investment management firms to work with a broad and growing investor base," Xu added.
"We will continue to expand the China team and local infrastructure to support our development of a domestic fund management business and use our data science methods and advanced technologies to serve clients in China, as we have done for our clients in other markets," said Kenny Lam, Head of the Asia Pacific region and Chief Executive Officer of Two Sigma Asia Pacific Limited.
As part of a long-term commitment to China, in May 2019, Two Sigma forged a partnership with Ping An's One Connect and Wharton...................... To view our full article Click here
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