Neuberger Berman Investment Management (Shanghai) is set to launch its first private fund for high-net-worth and institutional investors in China, by the end of March, Citywire Asia can reveal. The fixed-income fund will be run by Peter Ru, managing director and senior portfolio manager of the emerging markets debt team. Based in Shanghai, Ru is responsible for overseeing the firm’s China onshore fixed income capabilities and managing renminbi strategies for domestic and international clients. The new fund is the third fixed-income fund dedicated to China’s private fund sector, following Fidelity International’s two bond fund launches last year.It comes after Neuberger Berman obtained its private fund management (PFM) license from the Asset Management Association of China in Novemeber 2017. Patrick Liu, head of China and general manager of Neuberger Berman Shanghai said the company is planning to introduce more strategies in China this year. ‘We are looking to add new strategies such as equities and multi-assets products in the private fund sector for the rest of the year,’ he said. The Chinese private fund industry is becoming a hotbed for investment. Data from the Asset Management Association of China showed that total assets in the sector reached 11.76 trillion yuan ($1.85 trillion) by the end of January.
Neuberger Berman Investment Management is launching a fixed-income private fund for high-net worth and institutional investors in China. The move comes with investment in the country's private fund industry gathering pace, according to figures from the Asset Management Association of China. Neuberger Berman's fund follows the launch of two bond funds from Fidelity last year, also dedicated to China's private investors. Neuberger Berman says it's looking to add further strategies, such as equities and multi-asset products, to its private fund lineup this year.