AMP will take a 15% stake in its new joint-venture with China Life, with the insurance company owning the rest. The JV may eventually apply for QFII quota.
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The Australian firm has already raised $305 million, mostly from Asian institutions, and intends to have a final close by the first quarter of 2014.
AMP Limited's CEO-in-waiting, Craig Meller, is prioritising growth in China in a drive to turn around its investment management arm's shrinking AUM in Asia following a rout in Japan.
China's social security fund has named a dozen foreign fund houses to run the global mandates for which it invited pitches last year.
