They submit equity, bond and fund of fund requests in a move to compete with mainstream managers. Further, CSRC unveils new guidelines on launching mutual fund businesses.
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China's insurance regulator has awarded asset management licences to seven domestic fund houses and two brokerages as it ups liberalisation. The next batch is expected soon.
The subsidiary of China Life Insurance may develop enterprise annuity products with guaranteed pay-out options after going live with a new investment management system.
A move to allow insurers to outsource investments offers a key growth channel for domestic asset managers and looks set to stir competition for mandates.
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The Canadian insurer’s China asset-management joint venture will focus initially on insurance clients, but is also looking at retirement schemes.
China Life Pension has implemented new software for handling portfolio valuation and accounting, as it looks to develop its asset-management business.
