Industry welcomes move to open China fund distribution
Allowing new players to enter the arena is expected to encourage fund management firms to pay more attention to customer satisfaction, product innovation and cut down on churn.
Fund managers and prospective independent financial advisers in China have welcomed the regulator’s move to allow new players to enter mutual fund distribution in the country.
Last week, the China Securities Regulatory Commission (CSRC) revealed that from October 1 it will allow independent financial advisers (IFAs) and foreign banks to enter the sector, which at present is dominated by domestic banks. Discussions have been ongoing since last November.
And AsianInvestor has lear…
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