Harvest takes over DWS Greater China, Asia funds
At a stroke, Deutsche sheds most of its regional retail funds business and transforms Harvest Fund Management into ChinaÆs biggest cross-border asset manager.
Beijing-based Harvest Fund Management has absorbed much of the Asian retail capabilities, personnel and assets of Deutsche Asset Management, via a newly formed Hong Kong entity named Harvest Global Investments.
Deutsche Asset Management (DeAM) owns a 30% stake in Harvest Fund Management, which manages about $29 billion as of end June.
This vaults Harvest into the lead when it comes to China's fund houses building cross-border businesses in Hong Kong. More about that in a moment.
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